The automotive industry has witnessed a phenomenal paradigm shift, with the entry of electric and hybrid vehicles on streets. The government initiatives in developed as well as emerging nations for a more sustainable environment is the biggest support for the growth of electric vehicles market. Consumer preference for electric and autonomous vehicles would reshape the industry worldwide. The automotive industry’s nature is volatile owing to the fundamental shift happening. The merger and acquisition deals between automotive suppliers is on a rise. All the regions are preparing for the future which is electric mobility. Infrastructure development is a huge challenge are seeks enough attention. Europe, which has been economic gravity centre is now gradually getting replaced with Asia. Electronic products and software deployed in a vehicle are gaining more importance than ever. Usage based Insurance (UBI) is the latest trend in the automobile sector. This insurance method uses assorted parameters for premium calculation and consequently curtails the number of accidents. Aftermarket would soon be integrated as the OEM business, owing to the profit margins earned.