Automotive Industry – How to be Prepared to Stay Ahead of Electric Vehicles

In the coming decades, the Canadian government plans to implement electric vehicles as the only option available for sale.

Electronic vehicles are becoming more popular amongst car buyers. Not only are they environmentally friendly, but they are also cheaper to maintain and more affordable to power than gas-fueled vehicles.

Consumers spent 120 billion USD on electric car purchases in 2020. That’s a 50% increase from 2019.

In addition, governments across the world invested 14 billion USD on direct purchase incentives and tax deductions for electric cars in 2020, a 25% year-on-year rise.

As electric vehicles become more popular in Canada, here are some consumer trends that manufacturers and companies in the auto industry need to consider.

Customer Centricity

As consumer preferences and routines change, dealers and manufacturers in the auto industry are looking for new ways to interact with customers.

Customer-centricity is one of the keys to customer relationship management and developing long-lasting relationships with your clients.

It provides dealers and manufacturers with more opportunities to focus on what customers want and bring those ideas to the table.

For example, Hyundai Motor Company announced last year that their new line of electric cars, Ioniq, will offer customer-centric electronic vehicle experiences focused on connected lifestyle solutions.

Digital Manufacturing and Supply Chain Management

Digital manufacturing and supply chain networks are also becoming more resilient, agile, modular, and flexible.

Transparency, data, and collaboration with suppliers, distributors, and other parts of the supply chain network are crucial to building the efficiency and optimization needed to remain competitive.

Implementing technology such as the Internet of Things can help auto dealers and manufacturers gain insights to streamline operations, make smarter choices, and reduce costs. It allows them to focus better on investing resources into the quality of products and customer service.

More Training in Software Skills

As electric vehicles become more prevalent, the set of skills that auto dealers and manufacturers need also change.

While engineering-driven skills were in high demand before, the industry will start to see a more noticeable pivot towards software-driven skills across the whole automotive value chain.

How We Help

At SHEA Global, we help you assess, strategize, and implement solutions that help you throughout the supply chain.

Whether you need more visibility and agility throughout the manufacturing process, updated training, or better customer-centric relationship management, we have the tools to streamline your operations so you can focus on where you are needed the most.

Want to learn more about how we can help you? Contact us today!