Implementing circular economy strategies in the automobile industry – a step toward creating sustainable automobiles

Abstract

Purpose

This study aims to highlight the impacts of a rapidly growing automobile industry on the environment and how implementation of Circular Economy (CE) principles and strategies can help us in improving its sustainability without compromising on our existing economic models.

Design/methodology/approach

Increase in spending capacity, improvements in technology and decrease in the prices have catapulted automobile demand over the last few decades. Harmful emissions and waste generation during the entire life cycle of these complex machines need to be addressed in an urgent manner globally. Implementation of CE principles and strategies which are based on promoting a pivotal balance between environment, economy and the society can lead to minimize economic and environmental impact leading to better results for all the stakeholders.

Findings

Carbon footprint or environmental emissions during different stages of an automobile life cycle can be minimized using CE principles and strategies without compromising on the existing economic models. Government legislation and keen participation of Original Equipment Manufacturers (OEMs) and automobile manufacturers can drive the automobile industry toward sustainability despite growing consumption.

Originality/value

The literature review has been done with a fresh perspective to combine environmental sustainability with CE. This is a literature review of prior work done in this domain to explore the possibility of further intervention in this domain.

Citation

Patel, A. and Singh, S. (2023), "Implementing circular economy strategies in the automobile industry – a step toward creating sustainable automobiles", Benchmarking: An International Journal, Vol. 30 No. 7, pp. 2225-2233. https://doi.org/10.1108/BIJ-08-2021-0486