Auto Industry’s New Focus: Partnership with Consumers

The main driver for auto industry growth worldwide will be value, not volume, according to a study by the IBM Institute for Business Value.

Automotive 2025: Industry without Borders finds auto leaders in strong agreement that their business must become more open and inclusive. They say the industry's new focus is forming new bonds with customers to meet consumer expectations, a factor now second only to the technology need to do so.

More than half the 175 executives and thought leaders IBM polled in 21 countries agree that product design, marketing, service and aftermarket sales would improve by working directly with consumers.

Respondents are bullish about the spread of electronic driving aids, with 85% agreeing that partially automated driving will be popular by 2025. But only 8% believe fully automated cars will be commonplace by then.

Three in four auto executives say collaborating and partnering with other industries will be a key factor in the future of their own business. The study says the challenge of today's "rigid, self-contained" auto industry will be to quickly morph into an open and collaborative ecosystem populated by innovators from other fields.