Filings buzz in the automotive industry: 44% increase in digitalization mentions since Q2 of 2021

Mentions of digitalization within just the filings of companies in the automotive field were 44% increased in the second quarter of 2022 than in Q2 of 2021.

In total, the frequency of sentences associated to digitalization among July 2021 and June 2022 was 172% larger than in 2016 when GlobalData, from whom our info for this post is taken, 1st began to keep track of the crucial troubles referred to in company filings.

When businesses in the automotive business publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces experiencing corporations in the coming years. Digitalization is just one of these subjects – businesses that excel and spend in these parts are imagined to be greater well prepared for the upcoming small business landscape and better geared up to endure unexpected challenges.

To evaluate whether digitalization is that includes much more in the summaries and approaches of firms in the automotive sector, two measures were being calculated. For starters, we looked at the proportion of firms which have outlined digitalization at least once in filings during the earlier twelve months – this was 79% when compared to 57% in 2016. Next, we calculated the proportion of whole analysed sentences that referred to digitalization.

Of the 10 most significant companies in the automotive sector, Stellantis was the organization which referred to digitalization the most between July 2021 and June 2022. GlobalData identified 60 digitalization-related sentences in the United Kingdom-based mostly firm’s filings – .6% of all sentences. Ford pointed out digitalization the 2nd most – the challenge was referred to in .4% of sentences in the company’s filings. Other major companies with substantial digitalization mentions included Denso, Continental and Mercedes-Benz.

Across all providers in the automotive business the filing revealed in the next quarter of 2022 which exhibited the biggest concentration on digitalization came from Stellantis. Of the document’s 5,068 sentences, 51 (1%) referred to digitalization.

This examination delivers an approximate indication of which organizations are focusing on digitalization and how significant the issue is viewed as inside of the automotive market, but it also has limitations and should really be interpreted diligently. For case in point, a business mentioning digitalization much more regularly is not automatically proof that they are utilising new tactics or prioritising the concern, nor does it point out whether or not the firm’s ventures into digitalization have been successes or failures.

In the final quarter, firms in the automotive marketplace based in Asia have been most probably to mention digitalization with .45% of sentences in organization filings referring to the difficulty. In contrast, firms with their headquarters in the United States stated digitalization in just .19% of sentences.