In a recent industry discussion by OLX Autos India called OLX Auto Talk 3.0, which brings together prominent voices from the automotive industry to discuss relevant ecosystem issues, automotive ecosystem experts including OEMs, automotive markets and new age consumer mobility companies such as MG Motor, OLX, air mobility company Eplane and venture capital firm AdvantEdge have indicated that this pandemic will accelerate the digitalization of the industry automotive faster than ever before so the industry can meet the demands of new age consumers.
While the first wave of the pandemic definitely rocked the auto and consumer mobility industry, experts felt the industry is well prepared for the 2nd wave and technologies such as hybrid dealerships, integrated online consumer experiences, new forms of consumer personal mobility options and artificial intelligence. will be essential for the industry to protect itself from any further impact of the pandemic in the months to come.
Experts have estimated that OEMs and dealers have specifically adopted digital technologies faster in the past year than in the past 5 years. This has resulted in lower consumer buying cycles and paved the way for a seamless adoption of automotive experiences according to MG Motor.
However, although this remains largely an urban phenomenon, in small towns, used car adoption has exploded over the past year according to OLX with demand increasing by 130%. While personal mobility solutions remain the preferred option for a few given the high ticket sizes, AdvtangeFund has noticed that the adoption of low cost mobility solutions such as buses or transportation options for the Last mile connectivity has doubled to show lockdown by the majority of the population. This was propelled by the fact that the segment saw the reverse migration of blue collar workers from their villages to cities.
As the pandemic has impacted the transportation sector and OEMs, experts were optimistic about new era mobility solutions such as electric vehicles and flying taxis. Given the unavailability of appropriate road infrastructure, EPlane envisions that flying taxis could not only help address the challenge of urban overcrowding by providing safe means of transportation in the future, but would also be easier to adopt for industry versus electric vehicles.
In terms of electric vehicles, MG Motor is convinced that electric vehicles in the next 5 years will start to be considered more by consumers given the growing awareness of the environmental impact of internal combustion engine vehicles. MG Motor expects EV sales to double by March 2022, but warns that demand will increase in the EV sector if all stakeholders come together and work together in a common direction. The industry needs more product / component manufacturers to move upmarket and better educate customers on issues related to charging as a range. The industry should also incentivize early adopters without registration fees.
Sharing their thoughts on new trends emerging in the industry in the midst of the second wave, the experts said
Prof. Satya Chakravarthy, co-founder of the E-plane company, said: “While there is a huge opportunity for flying and autonomous vehicles, the ecosystem must see it as the next step in the evolution of passenger mobility. consumers. The engineering challenges with electric vehicles, especially with heavy vehicles, light commercial vehicles, the limited support currently available and India’s overcrowded roads clearly demonstrate that the future of mobility must be hybrid (air and road). ). help the entire industry accelerate innovation in alternative means of personal mobility given the growing concerns about hygiene today. “
Speaking about the way forward for the used car industry, Amit Kumar, CEO of OLX Autos India, said: “It is inevitable that technology will play a major role in helping the new car industry and the new car industry. opportunity to overcome the crisis of the second wave. Technology that can help consumers buy or sell their cars from the comfort of their own homes will not only help the used car ecosystem maintain slow growth during the pandemic, but will also help attract users to new areas. especially non-metros who are evaluating the purchase of a used car for their mobility needs. “
Sharing his thoughts on digital car buying journey trends and industry trends observed by Gaurav Gupta, COO, MG Motor, said: “MG Motor has strategically focused on reducing new initiatives. era to help define and shape the Indian mobility industry. The pillars of innovation are focused on the future of mobility, which has allowed us to partner with relevant institutes, companies and ecosystem stakeholders to create consumer-centric products by leveraging AI, VR and AR to allow our consumers to seamlessly complete their car buying journey in the absence of limited footfall in our dealerships. We have multiple initiatives under our MG Shield Plus umbrella. This covers – MG VPHY: contactless car demo and interactive platform between our sales team and customers. Our My MG app enables customers to be able to make video calls with cars in service centers and even perform financial transactions, in addition our digital car configurator (since June 2019) is used even more now and consumers have a fluid search journey to begin with. “
Taking a different approach to the rise of consumer mobility, Kunal Khattar, founding managing partner of AdvantEdge, said: “As a country, a large part of the population cannot afford mobility options. personal. startups and companies of the age. Large-scale passenger mobility, especially in first- or last-mile situations, will require tech startups to do it on a scale that OEMs might not be able to meet. Over the past year, our portfolio of Startups serving the segment has experienced a massive increase of up to 5 times over pre-COVID levels. It is only a matter of time that we gradually emerge from the pandemic as the Indian auto industry is extremely resilient and has learned its lesson well from the first wave of disruption caused by COVID. The automotive sector and the consumer mobility industry are designed to meet the mobility needs of the population as the economy gradually opens up. with technology as a key catalyst not only for urban mobility, but also for rural and semi-urban mobility. “
Disclaimer: This story is provided by ANI / NewsView. ET Auto is in no way responsible for the content of this article.