Dynamic shifts in technology and driving behavior are creating massive challenges and opportunities for automakers and vehicle dealers. The industry formerly known as “automotive” could now more accurately be described as the “mobility” industry, and data is at the center of its future, today.
- New disruptors—both inside and outside the industry—are continuously reshaping consumer and mobility behaviors
- Companies like Carvana, Vroom, and Power Band Solutions, unaffiliated with any original equipment manufacturer (OEM), are eating into the market share of used car dealers
- Automakers like Tesla, Polestar, and Rivian are creating new vehicles and business models that eliminate car dealerships altogether
- Subscription models, which allow drivers to use multiple car models for a monthly fee that includes all insurance and maintenance costs, are also redefining what it means to “own” a car
- Micro-mobility platforms that deploy and manage on-demand and connected scooters, bicycles, and motorbikes are giving people new reasons to ditch their automobiles and mass transit for short and first- and last-mile trips
- Convenience services that quickly deliver meals, groceries, and even vehicles themselves (concierge service, new car delivery by a dealership) are shifting the consumer mindset away from using a car in the traditional sense.