According to PwC, the scenario that cars will only become a privilege of the wealthier part of the population in the future will not come true. The number of cars in China should increase by 50 million to 418 million, and the biggest jump will be in the USA, where the car culture has been rooted for a long time. The number of cars there could increase from 300 to 359 million.
According to Pavel Štefek from PwC, modern technology, artificial intelligence and mobile connectivity will be in the center of attention of car manufacturers in the next decade. Cars will not only use various functions that make driving easier, but will also make greater use of 5G networks, automatically cooperate with charging stations, and so-called infotainment, i.e. providing information with the aim of evoking emotions, will play an increasingly important role in cars.
“Four out of five new cars sold in Europe will use advanced connectivity. We can already see that the expanding Tesla and Chinese automakers are investing very significantly in connectivity, and at the same time they expect that services and applications connected to the digital interface of cars will become an increasingly important source of income for them,” added Štefek.
In China in 2035, the share of electric cars in sales will be 81 percent and in the USA 58 percent. “The differences are primarily due to regulatory requirements. While Europe is following the path of regulations and bans and you will practically not buy new cars with a conventional engine after 2035, in the USA they rather believe in the power of the market, supplemented by incentives, which should ultimately increase the competitiveness of electric cars,” said Štefek.
In 12 years, fully autonomous cars will account for seven percent of sales in Europe and nine percent of sales in the US. China has ambitious goals in this direction, which through government programs wants to achieve up to 36 percent of autonomous cars. “And the current incipient expansion of Chinese electric cars into Europe shows that Chinese automakers are ahead of Europe in electromobility. It can therefore be assumed that it will not be any different in the case of autonomous cars,” pointed out Štefek.
According to PwC, Chinese automakers became the largest importer of cars into the European Union last year, while five years earlier they were at the bottom of the top ten importers. Expansion plans to Europe are getting stronger. This is sparking a debate in the EU about protecting European brands, as imports now account for 35 percent of cars sold in the EU. At the same time, Chinese automakers are strengthening their position in the domestic market, where their share has grown from 44 to 50 percent in five years, according to a PwC study.