One car, three consumer needs: Status, environmental responsibility and staying connected
Automakers must increasingly cater to the tastes and preferences of consumers in emerging markets, as economic power shifts, for instance to China. This is one of three larger implications of recent studies by GfK of structural changes and changing consumer behavior in the automotive industry.
Others include the changes automakers need to undergo to adapt to higher safety standards and environmental regulations, as well as consumer behaviors, including the need to be connected 24/7.
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