Younger consumers are drawn to the convenience of subscription services and will want the same model for using cars, Dr Andy Palmer argues.
By Nick David and Dr. Andy Palmer
A quick look at your bank statements will most likely reveal a consistent theme in each month’s transactions: payments to
A generation of consumers, and I’m one of them, have become addicted to subscription services.
Simple and no-strings-attached, subscription services seem to exist for every possible product out there. And now cars are joining the subscription surge.
The auto industry has experienced significant upheaval over the past decade.
Auto executives have dedicated most of their time and attention to adapting the physical and technical make-up of the cars they produce, such as shepherding from internal combustion engines to hybrid or electric in response to a more climate conscious market.
However, changing consumer attitudes are fuelling another major shift for the industry to contend with – and automotive executives are slowly waking up to it.
Continue reading… “The Netflix generation won’t want to own cars – here’s how the auto industry can adapt”