New Product Development (NPD) is a critical factor for success in the automotive industry, influencing market competitiveness and innovation. This study examines the impact of design iterations & changes (DI), virtual manufacturing readiness (VMR), supplier process readiness (SPR), and people skills & competencies (PSC) on New Product Development Performance (NPDP). A structured survey was conducted among 258 professionals in the automotive sector, and data were analyzed using Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and Structural Equation Modeling (SEM). The results confirm that excessive design iterations negatively impact NPD performance, while virtual manufacturing, supplier readiness, and workforce competency significantly enhance NPD outcomes. The study offers theoretical contributions to NPD literature and practical insights for manufacturers aiming to optimize product development cycles.