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Electric vehicles are changing the automotive world as we know it
In 2020, electric vehicles (EVs) are mainstream, thanks to the likes of Tesla and Nissan, and with environmental concerns at the forefront of people’s minds, they’re here to stay. The protection of air quality and reduction in greenhouse gas emissions is a priority for many global government bodies. As a result, emission reduction targets are placing pressure on manufacturers to speed up their responses.
Can OEMs endure the effects of EVs on their parts business?
The automotive industry is unquestionably anxious about the transition to electric vehicles (EVs), especially because of its impact on manufacturers’ highly lucrative parts businesses. EVs have fewer mechanical parts to repair or service, so OEMs are bracing for a considerable loss in revenue.
New touchpoints – digitalizing the automotive customer journey
The changes in consumer behavior and technology breakthroughs are creating a fundamental shift in the automotive customer journey. New insight from McKinsey & Co revealed that these changes are giving rise to disruptive technology-driven trends including alternative forms of mobility, autonomous driving, electrification and connectivity.