New technologies and digital and mobility services are evolving rapidly. As a result, vehicles are becoming more connected, more electrified and more capable of driving on their own. The digital evolution is also affecting key links in the value chain, specifically sales and marketing. To lead rather than follow these trends, automakers must become more agile and much better attuned to customer needs. The pressure to adapt is causing major disruption at a number of companies – many of which have been in business for a century or longer – because their business models have historically been slow to evolve. Now is the time to act, however, because the decisions being made today will determine tomorrow’s winners. Laggards in the automotive sector could face the same fate as failed companies in other digitally disrupted industries such as telecommunications, media, and consumer electronics.
