For more than 125 years the automotive industry has been playing a key role in industrial and business evolution. Names such as Carl Benz, Henry Ford, Alfred P. Sloan and Taiichi Ohno (just to name a few) have left their imprint not only on automotive, but on industry and business in general. This explains why Peter Drucker referred to automotive as “the industry of industries”.
In the 21st century the industry continues to play a pivotal role in economic development and human progress. The ongoing changes in the automotive ecosphere, however, make the future of the industry less predictable than ever before. Several relevant trends can be identified, including the following: