Volkswagen, BMW and Mercedes may cease to exist by 2030

Economist and head of the Institute of World Economics in Kiel Moritz Schularik gave a pessimistic forecast for German auto giants. In his opinion, if they do not radically change the approach to work, by 2030 companies may cease to exist in their current form. The portal Hibridos y Electricos writes about this.

Shulyarik bases his conclusions on an analysis of the current situation in the European automobile industry. In his opinion, the industry faces even more difficult times: the combination of electrification, digitalization and global competition is leading to fundamental changes. Previous guidelines will lose relevance by the end of the decade.

The economist is confident that German auto giants think traditionally and rely on quality and engineering. However, they will face significant technological and political pressures that will challenge their previous business model. In the future, software development, artificial intelligence and autonomous driving will play a key role.

BMW, Mercedes-Benz and Volkswagen are falling further behind global competitors, especially Chinese ones, threatening their positions in key markets. In the modern world, a car ceases to be just a means of transportation – now it is also a “digital service”. Shularik pays attention to startups with a smaller background than BMW, but with much greater technological flexibility.

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