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Featured - 4 items
The future of the automotive industry in India is in the process of being disrupted. Pollution, congestion, evolving business models and regulatory compliance are the top factors driving disruption in the automotive industry in India. New value chains are getting created amidst high levels of volatility in the market demand. Automotive OEMs and component companies will need to transform to succeed in this changing environment. A transformation in the structure, process and culture is needed to be agile, flexible and technology-enabled.
In recent years, there has been a rapid increase in vehicular emissions due to rapid urbanisation and industrialisation. Competition among automakers is also heating up as they attempt to differentiate themselves from each other with new features and technology. The advent of electric vehicles (EVs) in the automotive industry has also spurred changes in the buying behaviour of consumers while purchasing automobiles.
2:15
Future of Auto in India
Committed to India
2:38
Committed to India: The future of mobility
Transcript
Indian automotive market is witnessing five megatrends that will transform the industry.
Rapidly evolving customer needs:
With increasing spending capacity, high levels of product awareness, rapidly evolving expectations and demand for personalised products & services, customers are taking center stage of the entire automotive ecosystem. Understanding changing customer needs and having the ability to serve them differentially will be a key competitive advantage.With an increase in disposable income and the penetration of new technologies, it is expected that the Indian economy will have a higher demand for vehicles. They seek value-added services such as maintenance, insurance, and financing. Combating these changing consumer behaviour trends and catering to consumers' upgraded needs is best served by an absolute automotive strategy consulting service provided by our strong automotive consulting services.
3:11
Transforming for Growth
The Indian automotive sector is witnessing a shift towards new technologies. With the rise of electric vehicles, connected cars, and autonomous driving technologies, it has become imperative for businesses to keep up with the latest trends and innovations in the industry.
By providing insight into emerging technologies and trends, helping businesses develop strategies for adopting these new technologies, and providing the tools and resources to implement these strategies effectively, our automotive strategy consulting services help businesses stay ahead of the curve.
Disruptive impact of technology: at three levels
On vehicles (e.g. electric, driverless, connected): In the automobile industry, technology has revolutionised the design, production, and sale of automobiles. Autonomous transportation, including shared fleets and ride-hailing services like Uber will see a significant rise.
On supply chain and operations ( digitalisation, robotics, 3-D printing): The introduction of new technologies has substantially impacted automobile manufacturers' production processes, resulting in enhanced cost effectiveness, quality control, and product customisation. The automotive industry is a vital component of the economy and has a substantial impact on the local and global economies.
On business models (e.g. mobility as a service, vehicle sharing): As modern Indian consumers transition to a greener eco-system, the EV supply chain is expected to expand at an accelerated pace. Evolved digitisation and consumers' prompt adaptability are changing the future of mobility in India. Automotive consulting companies assist businesses in developing a sturdy business model in accordance with current trends and offering customised services to modern consumers. Automotive Industry participants must, therefore, reinvent themselves to find new ways of creating and delivering value in the future.
Dynamic regulatory environment:
Major regulatory interventions, such as the accelerated transition from BS IV to BS VI, the adoption of electric vehicles, safety rules and stringent vehicle standards, are leading to a shift in vehicle technology. This is creating significant challenges for the automotive industry and related sectors such as energy, oil & gas, transportation, and urban development. Additionally, the government is investing extensively in research and development (R&D) to create new technologies that minimise air pollution and enhance fuel efficiency. The automotive industry has already invested in the infrastructure required for conformity with BS VI, demonstrating an increased commitment to a green automotive industry. This comprises new cars, engines, transmissions, new technology such as turbocharging, direct injection, and new pollution control systems.
3:37
E-mobility - The upcoming disruption
Changing face of mobility infrastructure:
Development of smart infrastructure (e.g. smart cities), alternative modes of transportation and the drive to enable electric vehicle charging infrastructure will change the face of mobility infrastructure. To decrease pollution, charging stations for electric vehicles are currently in use in many places, but there is still a long way to go before electric vehicles become the norm. With the proliferation of electric vehicles In India, infrastructure would require that automotive companies modify their tactics.
Global interconnectedness:
India is emerging as a priority market for global automotive companies. A more macro-oriented perspective on industries has replaced traditional functions as a result of globalisation. To be successful in such an environment, businesses require a well-defined plan, the ability to manage risks effectively, and the capacity to expand their organisation's capabilities. Only the top automotive consulting firms in India will take a strategic approach to revamp organisational modes of operation while keeping globalisation accountability in mind.
1:25
PWC_Cybersecurity Connected Vehicles Risk
Cybersecurity for connected vehicles
How PwC can help Automotive clients
The automotive team at PwC combines industry, technical, and functional knowledge to provide customers with solutions that keep them ahead of the competition.
We work with clients across the automotive ecosystem, partnering with them from strategy through execution. Our comprehensive services range from developing cutting-edge strategies to designing and implementing solutions across business areas such as operations, finance, human resource, information technology, regulations, tax, risk and deals.
PwC services
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Strategy
Strategy
With major shifts in vehicle technology, emergence of new business models, and entry of new competitors; automotive companies in India need to rethink their business strategy. Our strategy practice helps clients develop growth strategies, business models, organisational structures & operating models to capture value from the market and increase the effectiveness of supply chains. Our proprietary models like Fit for Growth & Capabilities-Driven Strategy + Growth, help client get that extra edge to always stay ahead of competition.
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Management Consulting
Management Consulting
The automotive industry in India is going through a major transformation. Your success will depend on the business strategy and the speed of implementation of the transformation. Our management consulting practice, serves automotive clients design & implement their transformation journeys. We help clients enhance customer value, achieve manufacturing excellence, improve time to market, reduce product costs, attain procurement excellence, improve from financial effectiveness and build organisations that deliver sustainable competitive advantage.
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Technology Consulting
Technology Consulting
More than just being an enabler, today technology is becoming a key differentiator for the automotive business. Whether it is about delivering Omni-channel customer experience or having lean and agile supply chains, technology is helping clients differentiate themselves and capture higher value in the market. Our technology consulting team works with automotive clients to integrate data & analytics into their businesses, transform the role of IT function, choose the right application technology and help implement turnkey solutions as well as support and maintain along the application lifecycle.
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Deals
Deals
With the world becoming a global market place for Indian automotive industry, having access to global markets, product technologies and distinct capabilities quickly, are key to becoming a true global leader. Our deals team helps automotive clients make acquisitions, investments, divestitures, joint ventures, spin-offs and strategic alliances in order to be appropriately positioned in the market. In each case, we have the same overriding objective: to ensure clients maximise the return on their deal.
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Corporate & International Tax
Corporate & International Tax
With globalisation, complying to tax laws while being tax efficient is becoming increasingly complicated for automotive companies. Our corporate & international tax professionals, assist automotive clients in resolving various challenges such as keeping abreast with changing tax regulations, efficiently manage compliances, address uncertain tax positions, among many others. We provide you with an insight into how to ensure tax compliance, mitigate risks and undertaking transactions in a tax efficient manner. Our multi-disciplinary tax teams help you in corporate tax advisory, compliance, and building an overall tax strategy.
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Risk Assurance Services
Risk Assurance Services
With automotive industry undergoing technology-led transformation, new risks such data protection on the cloud and IT security & privacy threaten to risk long-established businesses. A collaborative approach to risk management led by the first line of defense can be the key to greater organisational resilience and growth. Our automotive risk assurance team works with clients on four fronts – internal audits, IT & project assurance, governance, risk & compliance and third party assurance. PwC also has several proprietary technology tools such as enForceTM, smart Litigation and Business Risk Analytics and Insights Network (B.R.A.I.N) on ongoing controls & monitoring that provide proactive insights for mitigating risks.
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Forensic Services
Forensic Services
Automotive industry in India and globally, is facing challenging fraud risks, such as collusions, policy violations, warranty misuse, resulting in huge monetary & reputational implications. Our forensics team helps in reactive investigations while our proprietary framework ‘Proactive Risk Intelligence Monitoring System’ (“PRIMS”), can help you uncover such risks well in advance. Our services include forensic accounting, financial analysis and regulatory knowledge to clients confronting corporate investigations, litigation and regulatory enforcement challenges. We also offer guidance and assistance with complex technology challenges. Our forensic team has special skills: accountants, financial analysts, technology experts, former law enforcement officials, economists, statisticians, engineers and fraud examiners.
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Regulatory
Regulatory
India’s automotive regulatory landscape is dynamic and complex. With regulatory changes around emissions norms, fuel policy, alternative fuels, electric vehicles, safety norms and so forth, it is difficult for our clients to develop the right scenarios. We track key policies, identify key drivers and stakeholders and provide our insights on the regulatory trends and their potential impact on business.
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Government Reforms and Infrastructure Development
Government Reforms and Infrastructure Development
With the government playing an active role in influencing the direction of the automotive industry companies need to stay on top of the key trends & movements. For over 15 years, we have been part of the national and state-level sectoral reform programmes. Working closely with clients in the public sector such as DHI, MoRTH, MoE and EESL, GRID provides services in areas including policy and strategy development, public private partnerships, financial restructuring, service delivery, performance improvement, institutional strengthening and capacity building, accounting and financial management systems and human resource development.
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