With the advent of electric, autonomous, and connected vehicles, the threat of cyberattacks has risen considerably in the automotive industry. Today’s vehicles employ 100 million lines of code powering many technologically advanced systems that make vehicles extremely vulnerable to unauthorized access and hacking of consumer data, and security breaches.
What specific challenges are automakers facing when it comes to ensuring more cybersecure vehicles? What tools and strategies can they adopt to empower the rapid adoption of cybersecurity protocols and procedures? How can automakers manage cyber risks along the supply chain, especially in the light of the new UN R155 cybersecurity regulation? What organizational and governance measures can automakers adopt to manage cybersecurity challenges? In this brief study, KPMG professionals intend to answer all the above questions and many more.
Particularly, our study highlights the intricate challenges that the automotive industry faces due to the growing digital connectivity in transportation. The industry is grappling with a range of cyber threats, including data and property theft, as well as disruptions to manufacturing processes. Manufacturers are impacted by various stakeholder groups, including consumers who prioritize data protection and security when making purchasing decisions.
A key finding of the study is that the automotive industry lacks standardized measures that could be used to assess the maturity of its cyber security. To effectively monitor risks across the entire value chain, the industry needs to prioritize the development of a monitoring system and interdisciplinary teams and processes. Additionally, it is crucial to stay informed about changes to the global legal situation to ensure compliance.
"Cybersecure vehicles" is one of the themes that we have identified as pivotal in shaping the future of global and the European automotive industry – from KPMG’s survey of global automakers and suppliers running in its 24th year.
Cybersecure Vehicles
Growing number of connected vehicles warrants better cybersecurity measures.
