Day: August 20, 2019

Automotive retail industry trendsTrends in the retail business are inevitably impacted and influenced by technological advancements, changing market place circumstances and evolving customer behavior. Last year we anticipated that global vehicle sales would be challenged and that was just what occurred, with global passenger car sales limping to a marginal improve of just over 400,000 units in 2018. We had all our chips on the unstoppable rise of mobility services and, by year end, the prime 5 ride-hailing companies—Uber, Lyft, DiDi, Grab and Go-Jek—were estimated to be worth more than $230 billion. We also predicted that value added solutions in automotive retail would be massive. So, on the one hand, software technology businesses made further inroads into the automotive sector by means of services like usage-primarily based insurance coverage, new finance and leasing solutions, and connected auto solutions even though, on the other, automotive firms kept their consumers engaged and …