Challenges and opportunities of change in the automotive industry
In the course of the next few years, OEMs and retailers will be faced with sweeping changes that will take place at a speed this industry has never experienced before. Investments in connectivity, electromobility and autonomous driving will require Research & Development budgets to be reallocated in favour for digital solutions, ensuring the industry remains competitive as other players entering the market. New mussels have to be trained to develop successful new business models and products. Despite declining margins, it will be required to position the customer in the centre of all activities. The speed at which the development of digital solutions and services takes place, in addition to the continuous updating of these solution models and the willingness to take risks and make mistakes will ultimately determine the difference between success and failure in the automotive industry in the years ahead. The presentation will provide an insight into how Ford views this as a great opportunity, sharing example of the new digital processes required for the design and development of Ford’s all-electric Mustang Mach-E customer experience, and the challenges Ford had to overcome in order to implement digital transformation in the retail sector.