Visteon's analysis provides insight into automotive industry mega trends

Shanghai Sept. 17(Gasgoo.com)  Global leading automotive supplier Visteon Corporation (NYSE:VC) recently conducted analysis of global mega trends based on published third party research on various socio-cultural patterns affecting the automotive industry worldwide. The trends indicate that China will play a leading role in several key automotive areas in the coming years. Visteon will use the findings to develop new products and technologies to support its customers.

“We conducted this analysis to really understand the social forces and changes behind the market, anticipate future market requirements and generate product concepts that mirror those changes,” said Yang Weihua, marketing director for Visteon Asia Pacific. “The results show that China is poised to take the lead in several important areas and our analysis, along with our other intellectual resources in China, positions us to tap into this great growth potential.”

Some of the third party research findings highlight opportunities not only for Visteon, but for Chinese automakers as well. One example is that Chinese consumers are increasingly demanding more compact cars that are fully equipped with state of the art components at competitive prices. In an effort to address this trend, Visteon is actively cooperating with local automakers to develop cost-effective solutions that ensure state-of-the art auto components are featured in those cars.

“Visteon is well positioned to use our automotive intellect to help manufacturers design cars that excite drivers and passengers in cost-effective and innovative ways,” said Asaf Farashuddin, Visteon’s vice president for corporate strategy.  “The trends show enormous opportunity for companies that are able to drive their development pipeline by anticipating and responding to market shifts.”

The study’s findings also highlight the following areas in which China will play an increasingly important role:

• Driver safety: There are an increasing number of new and inexperienced drivers in China, making safety products more critical in China market.

• Traffic patterns: Global urban population will exceed its rural population for the first time in history, which will greatly impact traffic patterns. Some of China’s “mega cities” will serve as laboratories to study congestion, traffic and commuting patterns.

• Interpersonal communication: Communication is one of human’s basic need, and while Chinese car owners tend to spend more time in the car, it is important to provide solutions for communication while driving. 

• Personalization and traditional value: Chinese consumers attach great importance to individual and stylish designs to satisfy their unique tastes and traditional values. Such an array of preferences is generating more personalized designs.

• Technology content: Chinese consumers are knowledgeable and savvy about the technologies in their cars. Not only are they driving trends in consumer electronics, but they will also be trend-setters for in-car consumer electronics.

As a company that leverages its global capabilities to drive innovation, Visteon has been dedicated to developing cutting-edge products and technologies that address various mega trends, including:

• Advanced Driver Information Systems to enhance driver safety: reconfigurable driver information systems, decorative illumination clusters, smoke lens cluster,  navigation systems, AFS Lighting system, driver awareness systems, and user-friendly  human machine interfaces

• Quality products for compact cars with optimized structures, advanced materials and craftsmanship and reduced cost,  size and weight

• Hands-free phone and voice recognition systems to enhance convenience and comfort while driving

• Products with strong styling and design capability tailored to Chinese consumer preferences and traditional values

• Personalized products to meet unique needs: color wash cluster and interior illumination lighting system

Visteon approached the analysis by first identifying mega trends in third party research that influence the market on a global scale, and then distinguished various regional markets by analyzing their particular socio-cultural trends. The third level of analysis was conducted to gain understanding of individual consumer characteristics, which, when combined with the first two levels, will ultimately allow Visteon to decipher and develop vehicle themes to satisfy customers’ needs across Visteon’s various markets worldwide. 

For more than 10 years, Visteon has been growing its presence in Asia Pacific. Today, Visteon operates more than 30 manufacturing facilities in the region, located throughout China, Japan, Korea, Thailand, the Philippines and India, serving global and regional automakers. Visteon is a leader in delivering climate, interior and electronics components and systems to its customers in what has become the fastest-growing automotive market in the world.

Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 26 countries and employs approximately 43,000 people.