U.S. sector spotlight

As has been the trend for the past several quarters, advancements in vehicle technology continue to create additional safety and regulatory challenges that automakers must monitor and adapt to. Data privacy concerns around “connected” vehicles, the safety of innovative technology, and the latest crash-safety features integrated within autonomous and electric vehicles must all be considered.

The automotive industry has seen a lot of firsts, including the first ever award to a whistle-blower for information provided to the National Highway Traffic Safety Administration (NHTSA) about two car companies and their reported violations of the Safety Act. In another first, prosecutors in California filed the first felony charges against the driver of an autonomous vehicle after the car, which was equipped with a partially automated driver-assist system, was involved in a fatal car crash.

While product recall numbers are important, they are only part of the story. Here's what you should take away from automotive product safety developments in 2022:

• Safety concerns related to electric vehicles, autonomous vehicles, and new technology will remain at the forefront. What are you doing to prepare for increased regulation around connected vehicles? Are you ready for the new safety requirements and legislation that might be coming?
• Automakers are well-advised to look at current FTC regulations and put their own safeguards in place to mitigate risk for consumers and for their own liabilities should a vehicle-related data breach occur. Do you have safeguards in place to protect from a data breach? Are you up to date on current regulations and what are you doing to ensure compliance?