Report: Auto Execs See Urgent Challenges, Feel Unready

Top executives at carmakers and suppliers agree they face five key challenges over the next 18 moths and feel unprepared to deal with any of them, according to EY's latest Changing Lanes report.

Managers polled by EY say the top C-suite priorities over the next 18 months are dealing with volatility, figuring out how to maximize value to their customers, finding technology partners, boosting operating efficiency and finding the talented employees they need.

But only about 25% of respondents consider their organizations sufficiently prepared to execute plans in any of those areas. EY warns that ill-prepared companies will lose competitive advantage to those that can respond now.