Tuesday, September 04, 2018 06:00 AM

THE AGE OF DISRUPTION: FIVE AUTOMOTIVE INDUSTRY TRENDS DEALERS SHOULD BEGIN TO PREPARE FOR - HTTP://CBTNEWS.COM/ (PRESS RELEASE) (BLOG)

In todays world, the automotive industry is far from business as usual. A lot has happened in the past few years to make the task of selling cars a lot different than it used to be. Much like the world of music sales, food delivery, and hospitality, disruption is beginning to make its way to the automotive industry.

A recent business decision by a significant player in the automotive world made this insight even more evident. On August 13, 2018, Cox Automotive announced their acquisition of Clutch Technologies, a technology platform that facilitates subscription access for the automotive industry. Since 2014, Cox Automotive has encouraged increase consumer mobility through the promotion of automotive subscriptions. Here is some of the reasoning behind the venture:[1]

Mobility services are beginning to be more widely embraced by consumers as an alternative to traditional vehicle ownership with ride-hailing usage nearly doubling and car sharing and vehicle subscription services gaining traction. Cox Automotive recognizes that certain groups of consumers do not want the long-term commitment of owning a car, and instead are offering ways for these same individuals to drive without buying. This is definitely a ...

News source: GOOGLE NEWS

See also: Lyle Industries