The highway to growth: Strategies for automotive innovation

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The highway to growth: Strategies for automotive innovation is a companion paper to PwC’s comprehensive survey report, Breakthrough innovation and growth.

Breakthrough innovation and growth explores three key questions:

  • How are companies using innovation to drive growth and what is the return on this investment?
  • How are approaches to innovation changing, particularly in light of a trend towards more disciplined innovation?
  • What are the best practices and critical success factors that deliver tangible business results?

To answer these questions, we surveyed 72 automotive industry executives from 17 countries, across the automotive value chain, to find out how innovation is impacting their businesses. We've found that the most successful innovators are moving their organizational strategies towards more breakthrough innovations, not just focusing on products. They're developing solid innovation strategies too. Some are already innovating to address megatrends impacting the automotive industry, like urbanisation, the shift of global wealth and demographic changes.

When it comes to innovation opportunities, automotive executives are also recognizing the importance of working together with the right partners and inspiring their people to motivate and attract talent.