The automotive industry is experiencing a period of great disruption – from driverless cars to the widespread adoption of ride-sharing apps and the emergence of mobility solutions to better-fit people’s lifestyle needs.
Currently, America is seeing more consumers abandoning the notion of long-term car ownership, instead opting for short-term vehicle subscriptions. The car subscription market size is expected to hit 15.56 billion by 2030, growing at a compound annual growth rate (CAGR) of 23.1%. And, while vehicle subscription offerings from OEMs have been around for a while, they’re just now beginning to gain traction with consumers and investors. So, the race is on to see which business models will provide the biggest competitive edge and which will prove the most profitable. To help get your company geared up for change, Creative Group is well-equipped to help you create global meetings and events aimed at fueling team innovations and possibilities.
The auto industry is also going through a major digital transformation that is revolutionizing the customer experience. With today’s consumers accustomed to getting things done on their smartphones, buying vehicles online with just a few clicks is more appealing than ever. In a recent study, close to 23% of respondents mentioned making automotive online purchases through their mobile phones. The friendly sales staff at the car lot has shifted to auto companies now investing in online portals, technology, and data-capturing capabilities that ensure a seamless digital customer experience. Creative Group incentive programs can help you encourage your IT teams to implement smarter e-commerce solutions that meet or exceed sales and shopper satisfaction goals.
The emergence of autonomous vehicles will present new job opportunities as more fully electric vehicles hit the road. As the number of driverless cars increases, so will the demand for trained service technicians with expertise in maintaining artificial intelligence (AI) components, high-tech sensors, intricate diagnostics, and more. When it comes to businesses attracting the best talent in the industry, 76% percent of hiring managers admit finding the right job candidates as their greatest challenge. That’s why perks such as employee recognition programs make a difference in acquiring and retaining the best people for the job.