Radical changes coming for auto industry, exec says

"Radical changes will take place in our industry through global megatrends, including autonomous driving, connectivity, shared mobility and electrification," said a Yanfeng Automotive executive who gave the keynote speech at the 18th West Michigan Automotive Suppliers Symposium, hosted by Grand Valley's Van Andel Global Trade Center.

The event was held March 9 in Loosemore Auditorium on the Pew Grand Rapids Campus. The theme of the symposium was "Automotive's Age of Change: What's Next?" 

Keynote speaker Bryan Nyeholt, vice president of Global Product and Process Strategy for Yanfeng Automotive Interiors, said a significant amount of redesigns and facelifts are coming into the market, and SUVs may continue to gain more market share in the next few years.

Nyeholt said with more than 113 global locations, communication and cultural training has helped make the company successful.

"You can't communicate too much. If employees are informed, it alleviates fears," he said. "Cultural understanding and respect is key for a global company. We are mindful of cultural traditions and we celebrate various traditions with our employees."

Mike Hall, director of Automotive Analysis at IHS Markit, gave an industry outlook. He said consumer confidence, the housing recovery and economic growth are all still strong. Hall said looking ahead, car sales will struggle a bit while SUV sales will soar.

The annual symposium brings together business owners, senior management and decision makers from all tiers of the industry. Sonja Johnson, executive director of VAGTC, said the symposium is meant to enhance the knowledge and competitiveness of Michigan automotive suppliers to help set strategic business decisions.