According to estimates, between 2012 and 2020, global automotive demand will increase by more than 50% to above 110 million light vehicles sold per year. The highest rates of increase are expected in the growth markets of China, Brazil, and India. In future, motor manufacturers will have to offer a significantly extended technology portfolio, which comprises traditional combustion engines, hybrid drives, electrical vehicles and fuel cells.
While the desire for individual mobility is increasing in newly industrialising markets, younger generations in Europe are becoming less interested in cars. For more and more consumers, the car is no longer a status symbol. Although the number of new cars being registered has been falling for some time across Europe, Hungarian automotive parts suppliers appear – at least for the moment – to be relatively crisis-resistant. Among other things, this is due to the manufacturing of high premium brands, such as Audi and Mercedes, in the country.
In this context, Amrop’s “Automotive & Industrial Practice Group” can provide valuable input for search mandates in Hungary and all relevant target countries.