A recent study on the future of the auto industry by the IBM Institute for Business Value found that as consumers move from vehicle ownership to vehicle usage over the next decade, cost and convenience will matter more than an automobile's brand.
Entitled "Automotive 2030: Racing Toward a Digital Future," the study shows that 48 percent of poll respondents said they would prefer looking at the convenience and cost of the vehicle when thinking about an e-hailing service that uses self-driving cars rather than considering the auto brand. The report also found that 50 percent of automotive executives who participated in the survey said that reinventing their organization with digital technologies is relevant in order for them to succeed or even survive.
“Digital reinvention will bring immense competition within the automotive industry in order to deliver the best products and services to meet customer needs,” one senior executive said.
The survey polled 11,566 consumers and 1,500 automotive executives. Learn more about the research insights and predictions by viewing the full report here.
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