The 24th KPMG Global Automotive Executive Survey comes at a pivotal moment for automakers. Driven by advances in electric powertrains, self-driving technology, and enhanced customer experiences, the business opportunities have never seemed greater.

In the latest survey, more than 1,000 executives in 30 countries again said they see enormous opportunities. But they are becoming more sober in their assessment of market prospects compared to previous years.

Having committed more than half a trillion dollars to the EV transition, the industry is asking when companies will see a return on the investment. Most automakers currently face losses on battery-electric vehicles, signaling potential shifts in the industry.

The upshot: to help ensure companies end up as winners, executives should rethink their strategies and ask themselves some important questions:

• Is the current slowdown in growth rate of EV sales a pause or a sign of prolonged reassessment by consumers? Will their enthusiasm be rekindled by new models about to hit the market?

• When will profits materialize from battery-electric vehicles (BEVs), and will manufacturers have the necessary resources?

• Will governments continue to be able to afford to subsidize the purchase of BEVs?

• What role other powertrain choices such as will hybrids and hydrogen fuel cells play in the market? 

• How can suppliers thrive amidst market changes, new competition, and original equipment manufacturer (OEM) demands?

• How much should automotive firms vertically integrate — in car operating systems, battery supply, and computer chips.

Navigating these strategic questions will shape how companies succeed in the coming years. A brilliant future for the automotive industry — with exceptional products, satisfied consumers, and a positive environmental impact — is within reach. Overcoming near-term challenges will be key.