Mentions of cybersecurity within the filings of companies in the automotive industry rose 53% between the final quarter of 2021and the first quarter of 2022.
In total, the frequency of sentences related to cybersecurity between April 2021 and March 2022 was 150% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.
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When companies in the automotive industry publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Cybersecurity is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether cybersecurity is featuring more in the summaries and strategies of companies in the automotive industry, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned cybersecurity at least once in filings during the past twelve months – this was 79% compared to 66% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to cybersecurity.
Of the 10 biggest employers in the automotive industry, Mercedes-Benz was the company which referred to cybersecurity the most between April 2021 and March 2022. GlobalData identified 64 cybersecurity-related sentences in the Germany-based company’s filings – 0.9% of all sentences. Magna mentioned cybersecurity the second most – the issue was also referred to in 0.9% of sentences in the company’s filings. Other top employers with high cybersecurity mentions included Lear, Stellantis and Ford.
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By GlobalDataAcross all companies in the automotive industry the filing published in the first quarter of 2022 which exhibited the greatest focus on cybersecurity came from Lear. Of the document’s 1,247 sentences, 13 (1%) referred to cybersecurity.
This analysis provides an approximate indication of which companies are focusing on cybersecurity and how important the issue is considered within the automotive industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning cybersecurity more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company’s ventures into cybersecurity have been successes or failures.
GlobalData also categorises cybersecurity mentions by a series of subthemes. Of these subthemes, the most commonly referred to topic in the first quarter of 2022 was ‘data security’, which made up 86% of all cybersecurity subtheme mentions by companies in the automotive industry.
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