The Automotive Playbook - A Survival Guide for the Future of the Industry
The Automotive industry is evolving at lightning speed, with more changes in the past three years than in the past three decades. Players must rethink their strategies entirely to survive. The Automotive Playbook reveals how companies can leverage key trends and digital commerce technology to ensure their business thrives in this rapidly evolving market:
-
Key trends that will change the face of the automotive industry
-
How you can solve the challenges of the industry with the help of digital commerce
-
3 MVP ideas that will future-proof your business
An Error occured while trying to load the form. Please reload the Browser to try it again.
The status quo in the automotive industry
If you think things are changing quickly in the automotive industry today, I promise it will be faster tomorrow. It is evolving at lightning speed, with more changes in the past three years than in the past three decades, accelerated in no small part by the disruption to production caused by the Covid-19 Pandemic.
Advancements in technology and shifting consumer preferences are shaping the future of mobility. As we move further into the 21st century, it’s becoming increasingly clear that the vehicles of tomorrow will look vastly different than those of today. From electric vehicles to self-driving cars, the future of the automotive industry is awash with exciting possibilities.
Automotive consumers visit an average of 4.2 websites as part of their purchasing process.
Cox Automotive
What does all this mean for the industry? The automotive business models of today will not exist in 10+ years. The customers you have today are not the customers of your future. Therefore, every player, from spare part manufacturers to dealers, and original equipment manufacturers (OEMs) to distributors, must rethink their strategies entirely to survive.
Today’s consumers expect to be able to purchase and receive what they want, when and how they want it, with maximum convenience. Since the customer is in charge, it’s up to brands and retailers to respond accordingly. The convenience economy is all about consumer empowerment and control.
We understand that such rapid change is scary, but with the right business mindset, you can be one of the players that stands the test of time.
