Dr Andy Palmer, Chairman Of The Board at Optare PLC and former CEO of Aston Martin, took to the virtual stage to talk to delegates about his view on the future of the automotive industry. Andy believes “we need to build the infrastructure for electric and autonomous cars to exist and make the UK the most open destination to the utilization of this technology.”
Many attendees were delighted at Andy’s speech and felt the event was an interesting and informative overview of the current climate and future of the automotive sector. One attendee posted on social media “Absolutely fab presentation this afternoon by Andy Palmer - former CEO of Aston Martin for the #bblive2020 Keynote Speaker. Very informative and interesting to hear insights about the future of the Automotive Industry.”
Andy started his speech mentioning that “The Future of The Automotive Industry in the UK” is a subject close to his heart, as for many Made in Group members and attendees to the event on the day. Setting the scene, Andy starts his speech with an outlook on the global automotive sector. He mentioned that there have been challenges within the automotive sector prior to COVID-19 and this majoritively comes from customer expectations. He said:
“The most obvious is the Gen Z consumer who views cars more like appliances. 56% believes a car is no more than a means of transportation, 70% don't have driving licenses and up to 30% have no intention or desire to get one.”
The problem here is that companies need to find a way to excite Gen Z consumers, through productivity, shared time and/or total experience. These changing customer expectations are influenced by the auto industry’s desire to go completely emissions-free.
Moving on to focusing more particularly on the UK automotive sector, Andy points out that the devastating effects of the pandemic were in addition to “the most turbulent time in automation in the past 100 years.” He questions, what does this mean for the automotive sector?
Non-supporters of the industry believe it is dead and not worth saving, however, the UK employs 823,000 people alone and has a turnover of around £82 billion, along with an added value to the UK economy of £19 billion.
However, Andy mentioned various figures highlighting why the UK is behind many other countries when it comes to car sales even with its expansive knowledge in-car technology, housing the likes of Formula 1.
He continued: “How quickly automotive recovers from the shock of the pandemic will be decisive for Britain’s overall recovery and future prosperity, global influence and reputation. As well as creating more skilled jobs, the sector may be able to be among the leaders in technological development and drive the mission to the zero-carbon economy ”
Find out more about what was said in Andy’s speech by clicking the link: https://www.youtube.com/watch?v=_uqBWP7jgvU&feature=youtu.be.