Member Article

Buoyed by consumer demand and legislative support, respondents to Dykema’s 2023 Automotive Trends survey enter the year in a period of cautious innovation. After analyzing survey responses, the firm's 2023 Automotive Trends Report compiles insights from key decision-makers to understand what trends will have the greatest impact on the automotive industry in the following year and beyond.

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.