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Will Electric and Autonomous Vehicles Hurt Big Auto Parts Companies?

TieRod

By TieRod
in General Auto Parts Discussion

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TieRod Contributor

TieRod

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They say that every 5 years technology advances more than it did in the last 10 years and some would argue it's not 5 but 2 years. The internet has taken everything into a new era of shopping, communication, and connectivity, just to name a few things that have changed. If you look at what we are on the brink of in the automotive industry, it really is revolutionary and game changing. Electric and autonomous vehicles are here and coming on strong. Some people think it's not going to amount to much and the world is never going to ditch the internal combustion engine, especially with the big oil companies making tons of money. But, there is a reason why car makers are starting to make a shift, did Tesla start this? Yeah they all had hybrids out there that never really caught on, but Tesla is catching on in a big way. Volvo is going to stop manufacturing internal combustion engines in 2018, what does that say? BMW and other manufacturers are looking at this and building strategies for the future, and I don't think they all include gas in the tank...

Tesla is about to unveil an all electric semi truck, now that would be a huge industry disruption...check out 

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Now, let's talk auto parts on this auto parts forum...what happens in this sector, namely aftermarket parts? Electric and Autonomous vehicles get harder to work on in the future and your average repair shop will steer away, let alone a DIY'er who replaces a set of brake pads on a weekend. I think the landscape for auto parts sales changes drastically in the next 10 years, while sales continue to bleed from brick and mortar stores to online. It's going to hurt a lot of people who are employed in this industry and not trained for the next thing....and it all started with the 56k modem and getting everyone online!

Read this article posted today 

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Thoughts, comments? Think back 10 years ago and fast forward to what we see today...it's insane.

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