THE ONGOING Covid-19 pandemic has disrupted the way of doing business. The pandemic has impacted the automotive industry and has made many practices that worked for the brands and customers lose their relevance and become obsolete. Nissan being a global automotive company was at the forefront in tackling this shift in business practices/ customer behaviour; anticipating its impact on the business; and innovating to invest majorly on the ‘Phygital’ approach – which streamlines dealership operations with an asset-lite business model supported by digital retail.
Digital Ecosystem
There is a great opportunity in the digital ecosystem for automobile OEMs and the industry will continue to invest in the digital ecosystem to streamline dealership operations and promote digital retail. Digital ecosystem has become a strong pillar in customer acquisition and retention for the industry at large and will continue to fuel growth in the category. Subscription and vehicle leasing options have also been well received by the customers and are likely to witness increased traction in the coming days.
Market demand is likely to remain strong on personal mobility due to the increase in disposable income, and given the market sentiments, the sales are likely to pick up due to a significant rise in first-time buyers and replacement buyers.
Additionally, the shift from diesel to petrol/CNG and hatchback & sedans to SUVs would remain to be a growing trend across the industry.
This story is from the 26 Jan 2022 edition of Businessworld.
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This story is from the 26 Jan 2022 edition of Businessworld.
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