Automotive Sector Gears Up

Jan, 29, 2022 – The automotive sector is already recovering from the economic consequences of the pandemic, and even faster in Asia. This recovery is driven by multiple forces. One driver is the 2021 mandate by many governments around the world for carbon emissions reduction in transportation, prompting larger car makers to announce a gradual switching of a large part of their production to Electric vehicles (EV) in the next 10 to 20 years, so as to reduce carbon footprint. EVs have surged past most forecasts of 2021 growth and have become a serious market disruptor in many countries. The development of the charging infrastructure may be a key factor influencing future EV growth. By scanning their environment, marketers would be better prepared for the automotive sector’s bright future.

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Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: [email protected]