At a press conference hosted by the World Car Awards (WCA) at the New York International Auto Show, an expert panel comprising 69 of the world’s top automotive journalists debated today’s top global trends in the automotive industry.
The conference revealed some key findings of a scientific study conducted by PRIME Research which included major trends such as efficiency, lightweight materials, design, connectivity and new energy cars as the most important media trends of 2014.
These trends form part of a bigger picture within the automotive industry, which PRIME Research have identified as the “smart efficiency cluster”.
This “efficiency cluster” is driven by the downsizing of engines, significant weight reduction, improved aerodynamics and new energy power trains; particularly plug-in hybrids.
“Utilizing this efficiency cluster is the challenge for all manufacturers and brands today and in the near future,” remarked Rainer Mathes, chairman of PRIME Research, which conducted the study in conjunction with the World Car Awards.
Mathes also said that lightweight materials were under the radar two years ago, yet in 2014 moved into the spotlight as the second most important aspect driven by interest in engine downsizing and the use of aluminum.
The Ford F150 and BMW i3 have helped in bringing materials such as aluminum and carbon fiber to the mass market as affordable solutions for weight-saving.
Following the media hype in 2012, electric vehicles are losing momentum. After two years of being among the Top three, EVs now rank as the fifth most important trend.
Plug-in hybrids are seen as the most promising electric drivetrain option moving forward, but the onset of premium electric vehicles — driven by the BMW i3 and Tesla Model S — bring electric vehicles back into the spotlight.
Stories written about these two models accounted for over 40 percent of all media coverage on electric vehicles. They have the ability to become game changers.
The World Car jurors also voiced strong opinions on connectivity; which is already a key factor in evaluating a car. Digital cars rank as the fourth most important trend, with infotainment and connectivity systems seen as increasingly significant. Tech giants Apple, Google and Microsoft have now joined the game: teaming up with automotive brands to create the next generation of digital cars.
PRIME Research International is a global leader in strategic communication research and consultancy and partners of the World Car Awards’ research.
The company provides strategic reports in 2014 that analyze the awards’ global automotive media coverage.
Now in their 11th year, the annual World Car awards have become one of the world’s most prestigious, credible and significant programs of its kind.
The awards were inaugurated in 2003 and officially launched in January 2004, to reflect the reality of the global marketplace, as well as to recognize and reward automotive excellence on an international scale.
The awards are intended to complement, not compete with, existing national and regional Car of the Year programs.
Car trends in 2014: Efficiency, light-weight and connectivity
Car trends in 2014: Efficiency, light-weight and connectivity
Some Warren Buffett wisdom on his last day leading Berkshire Hathaway
OMAHA, Nebraska: The advice that legendary investor Warren Buffett offered on investing and life over the years helped earn him legions of followers who eagerly read his annual letters and filled an arena in Omaha every year to listen to him at Berkshire Hathaway’s annual meetings.
Buffett’s last day as CEO is Wednesday after six decades of building up the Berkshire conglomerate. He’ll remain chairman, but Greg Abel will take over leadership.
Here’s a collection of some of Buffett’s most famous quotes from over the years:
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“Be fearful when others are greedy, and greedy when others are fearful.”
That’s how Buffett summed up his investing approach of buying out-of-favor stocks and companies when they were selling for less than he estimated they were worth.
He also urged investors to stick with industries they understand that fall within their “circle of competence” and offered this classic maxim: “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”
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“After they first obey all rules, I then want employees to ask themselves whether they are willing to have any contemplated act appear the next day on the front page of their local paper to be read by their spouses, children and friends with the reporting done by an informed and critical reporter.
“If they follow this test, they need not fear my other message to them: Lose money for the firm and I will be understanding; lose a shred of reputation for the firm and I will be ruthless.”
That’s the ethical standard Buffett explained to a Congressional committee in 1991 that he would apply as he cleaned up the Wall Street investment firm Salomon Brothers. He has reiterated the newspaper test many times since over the years.
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“You only find out who is swimming naked when the tide goes out.”
Many companies might do well when times are good and the economy is growing, but Buffett told investors that a crisis always reveals whether businesses are making sound decisions.
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“Who you associate with is just enormously important. Don’t expect that you’ll make every decision right on that. But you are going to have your life progress in the general direction of the people you work with, that you admire, that become your friends.”
Buffett always told young people that they should try to hang out with people who they feel are better than them because that will help improve their lives. He said that’s especially true when choosing a spouse, which might be the most important decision in life.
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“Our unwavering conclusion: never bet against America.”
Buffett has always remained steadfast in his belief in the American capitalist system. He wrote in 2021 that “there has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking.”
