Attracting and retaining talent, cutting costs, investing in innovation, managing risk and economic uncertainty rank as the top concerns for CEOs of automotive companies, according to PwC's annual automotive survey.
As respondents balance the need to attract talent while investing in innovation, 69 percent of plan to cut costs in the next 12 months, and 72 percent anticipate focusing more heavily on innovating to better existing processes and product development. Another 57 percent of respondents say their companies have been directly impacted by the U.S. debt crisis.
The survey also finds that 78 percent of respondents expect to modify their research and development and innovation capacity in 2012 in an effort to bring new products to market that meet stricter regulatory standards, changing consumer preferences and future growth needs.
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