Modern mobility is set to revolutionize the automotive industry. Automakers wanting to capitalize on the mobility trend need to determine what they can do to succeed in a market that could take two alternate paths: transformative or status quo.
The status quo path refers to steady growth in the industry based on customer comfort and market trends. It involves industry leaders offering affordable alternatives to taxis and public transport systems. The transformative path predicts an exceptionally quick rise in the introduction of autonomous vehicles.
Here are a few of the ways automakers can prepare for and, thereby, monetize modern mobility.
Introduce purpose-built vehicles (transformative path)
It’s about shifting the focus from the driver to the passenger - think about the user's comfort and convenience. The idea is to be the first to bring innovative purpose-built vehicles to the market and partner with shared mobility services like Uber to become an industry leader. For instance, you could be the first to introduce autonomous vehicles as part of a shared mobility service.
Become a fleet operator (transformative path)
Autonomous vehicles (AVs) will have a profound impact on fleet management. Although the focus won’t be on driving, these vehicles will still need to be properly managed to maximize their return on investment. Therefore, there’s a big opportunity to develop new systems to be used in this area.
Become a platform player (status quo path)
Platform players encourage innovation by building a connection between two or more interdependent groups, usually producers and consumers. By establishing yourself as a platform business in modern mobility, there’s the opportunity to operate at a scale that would position yourself to dominate the industry.
Shared mobility as an indirect channel (either path)
There are a ton of opportunities when it comes to the growth of shared access to vehicles through rental cars, taxis, limos, carsharing, and ridesharing. This includes ensuring fleet emission compliance and testing new designs or technologies.