The automotive industry faces the global threat of shrinking
new car sales volumes, fueled by a variety of factors, such as:
In addition to a shrinking addressable market, automakers
face rising research and development costs in the modernization of vehicle
platforms, electrification projects, and extensive regulatory compliance
exercises focusing on consumer safety and data privacy.
A natural and obvious response to these pressures would
focus on diversification of an automakerʼs product offering, providing avenues
not just for new vehicles to be utilized in these new mobility spaces but also
generating new revenue through the provision of consumer-centric mobility
services and enablement of fleet businesses. To this end, automakers must
address the daunting challenge of evolving their business models and supported
ecosystems from solely product-centric to a diverse brand offering, ranging
from subscription services to – ideally – becoming mainstays in the consumerʼs
digital life and daily journey.
To do this, bridges must be built between consumers, who pay
for transportation services; developers, who build the apps and services that
consumers use before, during, and after their journeys; and automakers, who
build the vehicles and value-add services which enable fleets and mobility.
But one of the major
roadblocks to realizing this value chain is the challenge of consumer privacy –
how can stakeholders safely and legally share the right data to build a
scalable tool-chain which allows automakers to deliver data to third parties
enabling these services? SBD Automotive surveyed a number of consumers as well
as automotive industry experts to specifically contextualize these challenges
and generate a set of requirements for how OEMs can address these industry
pressures in a cost-effective and scalable way.
In order to create a rich, open mobility ecosystem, there
must be a common framework upon which automakers, developers, and consumers can
each solve their own respective challenges with the status quo: