TRANSFORMATION OF THE AUTOMOBILE SECTOR COMPANIES` INTERNATIONAL MARKETING STRATEGY TAKING INTO ACCOUNT FACTORS OF SUSTAINABLE DEVELOPMENT

Abstract

The paper examines the theoretical and practical foundations of the transformation of the company`s international marketing strategy in the automotive sector, taking into account the factors of sustainable development. The importance of taking into account the factors of sustainable development when developing strategies and business models of companies in order to maintain their competitiveness in changing and developing markets is emphasized. It has been established that the automobile market plays a significant role in the world economy and significantly affects its development. The production and sale of passenger cars and light commercial vehicles contribute to the overall economic output of many countries and have a ripple effect on related industries such as manufacturing, technology, and transportation. Fluctuations in the volume of car sales on the global market were analyzed and the key factors that influenced their decline were determined. The global automotive industry has been severely affected by the COVID-19 pandemic, disrupting global supply chains and causing temporary factory shutdowns. Worldwide car sales experienced a modest growth from around 66.7 million units in 2021 to approximately 67.2 million automobiles in 2022. This growth suggests a potential recovery from the downward trend witnessed in the previous years. It is emphasized that the management of automotive enterprises should anticipate the changing dynamics of the market and invest in innovation in order to remain a competitive business. Automotive companies that have set themselves the goal of using sustainability as one of the vectors of their international marketing strategy should actively communicate their sustainable initiatives and achievements in order to attract the attention of consumers and create an image of a responsible and socially oriented company. A model of the transformation of a company`s international marketing strategy in the automotive sector, taking into account the factors of sustainable development is proposed.