The age of adventure is being replaced by the realm of reality in the automotive displays at the annual Consumer Electronics Show in Las Vegas, once a...
Car companies and startups will show technologies they expect to be profitable in the near-term, not in some uncertain future.
The show still will be packed with products trying to provide pizazz. At least 274 auto and mobility exhibitors will cover more than 400,000 square feet ± equal to seven football fields — a 70% increase in floor space from last year’s pandemic-depressed levels, according to the Consumer Technology Association that puts on the show.“There’s no question that there’s been a shift,” Gary Shapiro, president of the CTA, said in an interview.
“It’s sexy realism,” Gary Silberg, a global partner and head of the automotive practice for consultant KPMG. “There are great toys out there and it’s going to be awesome, but we’ve got to be real about how we’re going to use them.” Auto executives are even paring back expectations on electric vehicles after confronting the reality of battery shortages and soaring raw material costs.
“When we asked these same questions last year, it was all rainbows and butterflies,” KPMG’s Silberg said. “But now it’s no longer theoretical and you see this realism.” Carmakers have begun redeploying the capital they spent on self-driving research into automated features that promise a quicker return. After taking a $2.7 billion writedown on the shutdown of Argo, Ford is shifting its focus to semi-autonomous features, such as its Blue Cruise hands-free driving system that car buyers are showing a willingness to pay for right now.
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