Cost conscious consumers are driving car manufacturers to focus on smaller engines and also the use of technology to create cleaner, more efficient vehicles, according to KPMG International’s 2014 Global Automotive Executive Survey.
The survey results suggest that the downsizing of engines is one of several significant influences shaping the global automotive sector.
KPMG says in its survey summary that automakers are undergoing changes on many other fronts: fuel efficiency being the number one priority for cash-strapped consumers, the rise in popularity of hybrid cars in the e-vehicle race, the continued emphasis of mobility solutions and technology as critical to original equipment manufacturer (OEM) survival in the automotive value chain, and the increasing power of Brazil, Russia, India and China (BRIC).
“Continuing consumer concern with fuel efficiency and pollution is urging automakers to focus on plug-in hybrid engines for the near future,” said John Leech, KPMG’s UK Head of Automotive.
“Since the development of e-vehicle technology takes time, in parallel, automakers are also maintaining a strong grasp on downsizing the internal combustion engine, which is expected to deliver substantial improvement in fuel efficiency during this decade.”
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