W 23 — Tryst with the Auto Sector
A lesser-known fact about me is that my entire room was filled with large posters of cars like Bugatti Veyron and Audi when I was 12. How those posters were replaced by that of Disney princesses are a different story in itself. But since childhood, cars have always fascinated me. I somewhat feel that human evolution comes riding on the cars that are trending in that particular year. Automobiles today stand for fruition, status, and power. They derive personality traits which not only humans have, but also those which humans desire.
Well, my love affair with cars ended in high school. The technical aspects of automobiles had as it is always been Greek to me.
Recently, I got a chance to revive my affair with cars, when I joined Edelman India, and was alloted an auto client. My experience in the sector is just 10 days old, but each day fills me up with childlike amazement. Here a few trends I identified in the auto sector that are revolutionizing its landscape.
1. The future is electric
Electric Vehicles are vehicles which use batteries instead of fuels for propulsion. They are either partially or fully powered on electricity. Recent engagements of Tesla in India furthered the conversation around Electric Vehicles. Electric Vehicles are one of the biggest disruptions in the auto space. They are cost effective and environment friendly, though the high cost of maintenance and limited charging infrastructure are facets yet to be explored. The government is aiming for an EV sales penetration of at least 30% for private cars and 70% for commercial cars.
2. The reality is virtual.
Virtual reality is not just an oxymoron. It has now become the reality of many virtual test drives in the wake of the pandemic. Just like any other sector, the auto sector has also adopted to a greater use of digital technologies to deliver the same personal experience. Brands have made their social media accounts more interactive, and have started innovative ways, like personal delivery of VR kits to journalists, to enhance communication.
3. India rising globally
India is close to become the third largest automobile market of the world! The population definitely plays a vital role, but the capacity of Indian people to purchase automobiles has also increased in the coming years. A lot many global companies, especially Chinese companies have also set up manufacturing units in Indian states like Tamil Nadu and Gujarat. This has spurted job generation in India and has put India way higher on the global map of auto space.
By the end of this internship, ai am sure I will be able to spot other arising trends in the automotive sector.