Despite the superconductor supply issue, automotive manufacturing is roaring back

It’s no secret that COVID-19 and supply chain issues threw a wrench into the automotive manufacturing industry as assembly lines stalled due to the lack of supplies, notably superconductors or microchips.

But, as Americans are now hitting the road to go back into the office or take long-awaited vacations, the auto industry is roaring back. And, with high gasoline prices, many drivers are also looking to purchase vehicles that are more fuel efficient.

In fact, consulting firm McKinsey & Company say drivers want vehicles that are more digital, more connected and, especially, more electric. These demands will not only increase production in auto factories and their subsidiaries, it will also lead to an automotive manufacturing revolution.

Mobility and connective services driving growth

McKinsey also expects that new business models that involve increased mobility, data-driven services and feature upgrades will add up to $1.5 trillion to automotive revenue pools.

This will be a boon to OEM manufacturers like Ficosa as both drivers and new state and federal laws will call for expanded safety features like our rearview cameras and autonomous driving technology.

And, the speed of innovation, especially in software systems, will require that new cars be upgradable. Consumers are becoming more aware of new technologies and will want to be able to upgrade on demand.

Changes in innovation

Because consumer demands are changing, successful manufacturers will need to offer innovation in addition to production. Suppliers will need to offer more user-oriented software and connectivity for drivers.

This drive toward innovation will lead to additive manufacturing methods which will include 3D printing to “make the unmakeable.” Additive technology streamlines design and production and cuts down on parts that need to be molded or produced separately.

Innovation will also lead to mass customization that will allow the consumer to own a unique-to-them vehicle without having to spend thousands more to achieve this goal.

Sustainable future

Ultimately, these innovations will lead to manufacturing that is more autonomous and sustainable. As consumers become more interested in products that are high in quality, efficient, sustainable and tailored to their specific needs, the more the auto tech industry will need to adapt to keep up with demand.

At Ficosa, we have been committed to innovation and sustainability since our inception. Not only are we invested in sustainable economic development, we are committed to society. Our business model of decentralizing our manufacturing and research centers over 16 countries to ensure our factories are near the communities we serve will position us to meet the challenges of a growing auto tech sector.