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As the automotive industry starts its second century, it is dominated by a handful of large players. The mergers, spin-offs, consolidation and record sales volume over the last five years have created unprecedented size. But they have not created a sustainable model for long-term shareholder value.

Today's automotive leaders face new and pressing challenges: rising customer expectations, emerging technologies and intensifying competitive pressures. Success depends on finding new ways to create value and distribute the value benefits.

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