2023 Automotive Trends Report
The top responses from the survey reveal an industry-wide focus on legal benefits and risks tied to new electric and autonomous vehicle technologies. Perhaps unsurprisingly, the primary risk concerns for the industry in 2023 include lawsuits tethered to electric and autonomous vehicle technologies. The report also indicates potential roadblocks ahead for the industry, such as broader antitrust oversight, dynamic changes in rules for noncompete agreements and overtime compensation, and pressure to navigate environmental, social, and governance (ESG) initiatives.
Supply chain woes also remain top-of-mind for respondents. The lingering effects of the COVID-19 pandemic’s supply chain disruptions (amplified by global unrest and inflationary pressures) continue to ripple across the industry. Findings also indicate that a continued shortage of skilled workers should remain in 2023.
Other topics explored in the report include financial distress, government regulation, labor and employment, cybersecurity, and intellectual property.
Dykema’s survey polled a select group of executives from organizations that included original equipment manufacturers, suppliers, industry publications and advocacy groups, and outside financial, accounting, and legal support across the automotive industry.