Nowadays, advanced materials and related processes in the automotive industry, are more widely used, leading to an effort towards reducing weight and fuel consumption. The use of such advanced materials and technologies tends to increase the cost. Multifunctional materials (MFMs) and related processing technologies aim at overcoming this increase of cost by exploiting the high level of functional integration. MFMs are designed so as to meet specific requirements through tailored properties. The use of such materials, in the automotive body construction, can help reduce produced parts, lightweight design, high level of integration of functionalities, advancements in mechanical properties of structures etc. In the current study, there is a clear definition of MFMs, and a critical view of such materials used both in the automotive body construction and in other industrial applications.