There will be opportunities for those adept at navigating this challenging and fast-moving terrain. Speaking at the Autotech Event 2023, Louise Nehler, Head of Strategy at MEKO, shared the company’s visions for the future and touched upon prevailing industry trends.
The automotive industry is undergoing a rapid transformation. As of August, EVs accounted for more than 20 per cent of new car sales in the European Union, marking a two-fold surge in sales in the last twelve months, according to the European Automobile Manufacturers Association.
This global trend is particularly noticeable in the Nordics. In countries like Sweden and Norway, traditionally staunch admirers of strong and established regional brands, a completely electric model has emerged as the top-selling car in 2023.
Such shifts inevitably alter the industry's overarching dynamics, introducing both challenges and opportunities for companies like MEKO.
In October, Redeye hosted the Autotech Event 2023 in Gothenburg, Sweden, assembling investors and industry leaders to deliberate on the ongoing digital transformation of the automotive sector. Louise Nehler participated in these discussions, alongside representatives from Polestar, SmartEye, Acconeer, Zenseact, and Gapwaves.
After a brief introduction by the event organisers, Louise introduced the audience to MEKO's firm commitment to the circular economy and its steadfast belief in the constant demand for mobility, followed by her analysis of market trends.
As I see it, there are a number of notable industry trends. Electrification is one. Sustainability is another. With these come a host of interesting opportunities, said Louise Nehler.
“Regarding electrification, our strategy from the outset has been to be the market leader. We anticipate that the total aftermarket value will continue to expand but that the profit pools will shift. This explains our increased initiatives in sectors that will be favourably impacted by this change and our vigorous M&A strategy to establish geographical diversity," she added.
Louise also discussed the MEKO Academy, which to date, has trained over 6,000 technicians in EVs. It was set up to ensure high technological capabilities and meet emerging workshop requirements.
Joakim Wickholm has built his career on extensive experience in corporate groups and a passion for using IT as a driving force for business development. He thrives in change-driven environments and with colleagues from all parts of the world. ”We aim high, move fast, and continuously evolve—there’s never a dull moment”, he says.
With a strong focus on commercial vehicle workshops – MEKO’s most important customer group today – the company is now launching a dedicated division to accelerate growth in a market full of potential. MEKO is taking a major step into the commercial vehicle sector with the launch of a powerful new division. The initiative is led by Nils Hollmann, who brings over 15 years of industry experience.“We’re now increasing our pace in a fragmented market, but one that is also full of opportunity – both for MEKO and everyone who owns, operates, repairs or maintain commercial vehicles,” says Hollmann.
Tires are one of the most critical factors for safety, comfort, and performance in a vehicle. With the right tires, car owners can both improve driving comfort and enhance road safety. Tires are also a strategically important product with significant growth opportunities and potential for upselling. This is why MEKO invests heavily in tires, including a multi-year agreement with Goodyear, one of the world's largest and most renowned tire manufacturers.