How car component suppliers can become future-proof by applying circular economy principles
Consumer demands are changing the industry
"Car owners between 18-35 years of age are 40% more likely than other age categories to abandon their vehicles if costs increase. Instead, these consumers are starting to ‘lease cars like they sign a smartphone subscription’."
Automotive life cycles are becoming circular
Car component suppliers need to collaborate across the entire value chain to help
re-evaluate car design, the parts used and end-of-use strategies
Together with ABN AMRO, Circle Economy has investigated the trends in consumer demands and how car component suppliers can stay ahead of the curve by applying circular strategies to meet them