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    Usage-based vehicle insurance—all PAYD up and raring to go!
    Usage-based insurance (UBI), also known as telematics insurance, is a type of automotive insurance that uses real-time information about a driver's actual driving ability and habits to assess actuarial risk. This information is collected via a tracking device, such as a professionally installed black box; an on-board diagnostic (OBD-II) device or dongle; a smartphone; or, increasingly, a car's factory-installed connected platform that connects the car to a local wireless network, enabling data t...
    Automotive Supplier Outlook 2024
    The automotive industry grappled with a range of challenges this year, including ongoing supply chain disruptions, chip shortages, rising energy costs, inflation, recession fears, waning consumer demand, a shift towards software and electronics, labor shortages, strike action, and volatile order forecasts. It also faced several geopolitical concerns and challenges, including the ongoing trade tensions between the US and China, which resulted in tariffs and trade barriers that disrupted global su...
    Battery swapping: On a comeback trail?
    Over the years, the opinions on the feasibility of battery swapping technology have ranged from one extreme to the other with some stakeholders being optimistic about its future, and others believing it to be too niche and complicated to be a mass-market solution. The technology has come under spotlight again with Stellantis and Ample announcing a partnership in December 2023 for battery swapping solution. The two companies signed a binding agreement to establish a partnership under which Amp...
    Looming EV raw materials supply crunch has OEMs eyeing battery recycling and production scrap
    The expected increase in global EV sales by the end of the decade will put huge pressure on the supply chain for critical battery raw materials such as cobalt, nickel and lithium. For example, despite a current surplus in lithium, demand projections for the mineral will likely be in deficit by 2027, according to a forecast by S&P Global Market Intelligence. That will create a bottleneck for automotive supply and drive the industry’s focus toward battery recycling to keep EV battery costs d...
    Interview: ITT Inc. on growth strategy amid electrification transition
    For automotive players, planning for the transition to electrification is complex. First, they must retain a grip on their market share by developing solutions for electric vehicle applications and yet, they must continue to innovate with combustion vehicle components as many vehicles in the fleet will continue to have an internal combustion engine (ICE) after 2035. The Motion Technologies Value Center of US-based ITT Inc., a manufacturer of critical components for the transportation, indust...
    Schaeffler eyes broader aftermarket play in its bid for Vitesco
    German automotive supplier Schaeffler AG announced on October 9 its bid to take over electric mobility and powertrain components supplier Vitesco Technologies in a move to strengthen its position in the electric vehicle supply chain. The Schaeffler family, which owns 75% of Schaeffler AG, already own 49.9% of shares in Vitesco and 46% of German automotive supplier Continental. Announcing the move, Schaeffler AG said it is offering €91 per share to Vitesco shareholders, reportedly valuing the c...
    Germany: Decarbonizing the country’s on-road fleet is key to net-zero 2045 target
    At the Davos 2023 earlier this year, German Chancellor Olaf Scholz made a prediction that by 2045, Germany would be “one of the world’s first climate-neutral industrial nations,” its sourcing of energy supplies would be “almost exclusively from green electricity, heat and hydrogen” and its roads will be “emission-free.”  In 2021, Germany set out the national goal of achieving climate neutrality by 2045, five years earlier than the previous target of 2050. On the way to the ...
    Can Brazil’s commercial truck fleet turn electric?
    In Brazil, intermodal transport is limited, with average truck trips spanning more than 2,000 km. Combine that with a commercial truck fleet averaging 12 years of age, and a lack of affordable options to replace with new vehicles, and Brazil is facing a truck-emissions timebomb. Brazil has a truck parc of 2.2 million units, and the movements to modernize the fleet by agribusiness, e-commerce and construction have contributed to reducing the fleet average age. However, while the emission restr...
    BEV opportunity for the remanufacturing industry
    The transition to battery-electric vehicles (BEVs) and alternative fuel powertrains is perhaps the most significant market trend facing the remanufacturing industry around the world, especially in Europe, the United States and mainland China. The transition has the potential to reshape the industry in the long term, and while we expect minimal impact before 2030, investments into research and development and formulation of strategies will be critical in the near term to ensure a smooth tran...
    What digitalization means for the automotive aftermarket
    Digitalization has had a significant impact on the automotive aftermarket, including new business models, new digital services, and better access to information. The easier access to the internet has allowed consumers to make more informed decisions about vehicle repair and leverage data for predictive maintenance solutions. As for workshops, the greater internet penetration is enabling online ordering of spares and allowing vehicle diagnosis and repair through augmented reality. Aftermarket sup...
    Analysis: BorgWarner spins off fuel systems, aftermarket businesses to sharpen EV focus
    In an attempt to sharpen its focus on electric vehicle (EV) technologies while accelerating growth under the “Charging Forward” strategy, the Michigan-based automotive component supplier BorgWarner Inc. said on 6 December 2022 that it plans to spin off its fuel systems and aftermarket businesses into a separate, publicly traded company (NewCo). The announcement comes amid the ongoing global shift to EVs as both automakers and component suppliers transition supply chains and their respecti...
    Battery life and its role in assessing the life of a BEV
    As the shift toward battery-electric vehicles (BEVs) gains momentum in key automotive markets around the world, the lifespan of BEVs vis a vis that of internal combustion engine (ICE) vehicles is increasingly coming into focus. Typically, ICE vehicles that have completed about 12–15 years of registration are designated end-of-life (EOL) in most countries. However, because electric cars are still relatively new to the market, it is still early to arrive at tangible data on how long an electr...
    What can blockchain do for aftermarket and aftersales management?
    The automotive industry of the future will need to be more integrated and offer on-demand and personalized services. In their quest to better position themselves in that environment, vehicle manufacturers have started looking at blockchain technology to better track and protect vehicles' true identities. If adopted widely, this is expected to affect the traditional model of service and repair. Blockchain technology offers several benefits such as improving supply chain processes, streamlining...
    Fit for 55: What does it mean for the EU aftermarket?
    The European Commission on 14 July unveiled its much-anticipated roadmap designed to support the European Union's (EU’s) commitment to reduce net greenhouse gas emissions by at least 55% from 1990 levels by 2030. Dubbed "Fit for 55", the legislative package sets the EU on course to become the first climate-neutral continent by 2050. If fully implemented, the Fit for 55 proposals would imply an emissions reduction of 42% from 2019 levels by 2030. Until then, they are just that—proposals. T...
    Implications of the chip shortage crisis on the automotive aftermarket  
    The global shortage of semiconductors began a few months into the pandemic, setting off a perfect storm in the auto industry from Asia to Europe to the US. Driven by the continued parts shortages caused by chip supply constraints, carmakers were forced to cut production with no early solution in sight. VW stopped production of various models in Europe, China, and North America with 10,000 employees furloughed. A...
    Connected intelligent tire and its impact on tire replacement business
    The mobility ecosystem is driving several megatrends such as connected services, vehicle autonomy, shared economy, and electrification. The role of tires in this future mobility environment will involve delivering a safer, smarter, efficient transportation experience, while also improving social and environmental outcomes. The convergence of these megatrends will place unique demands on tires beyond the ability to roll at high speeds and maintain grip under any road condition. Tires will also...
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