The automotive industry is passing through the transitional phase because of the continuous shift in the buyers’ preferences. The emerging markets are presenting new opportunities to grow but with complex challenges to compete with global rivals. Continuous changes in trade practices of OEMs and channel partners are exerting extra pressures on the industry. In such a challenging marketing environment, industry needs to involve Automotive Sector Consulting Firm for strategic help.
New Trends Make The Hiring Of Top Automotive Consultant Essential:
Segmented needs of buyers drive the requirement for intense innovation. It is a great challenge for the Automotive Industry to know the current and future requirements and expectations of potential buyers. Careful sub-segmentation of activities helps the industry to leverage the growth. Regulation of stringent pollution norms puts new challenges to improve the design. To hold the key position in the export market, Industry needs to incorporate in-depth changes in all the functional and operational areas. Outsourcing of Automotive Consulting Services helps to define the required changes and to structure a roadmap to incorporate these into the existing processes.
The scope of Automotive Industry Consulting Services:
Unrealistic costing brings down the sales because the buyers have more options to buy the equally good vehicle. Even the small volume sale needs to be competitively priced. Automotive Industry Consultant helps the organization to keep the products’ cost low despite the increasing operational cost by redesigning the operational capabilities. Automotive suppliers’ cost reduction is another great challenge for the industry but the automotive consultancy simplifies the task by helping to develop more efficient and competitive supply chain. The Consultant guides the ongoing innovations to help in branding. Customers like their preferences to be addressed soon; the brand addressing the buyers’ concerns first to others becomes a favorite of the target community. Consultancy Industry is customized to create a unique image by focused branding. In-depth knowledge of latest technology, competitive cost structuring, and safe investments makes the growth steady; the experience of hired Automotive Consultant makes the task easier. Most automotive industries find themselves lacking in the required capabilities to implement the change faster; the Automotive Consultant trains the concerned stakeholders to use the advanced methodologies and tools to perform better.
Leading Management Consulting Firms offer Automotive Industry Consulting Services in customized module. The years’ experience and global market exposure help the involved consultants to understand the needs to help the organization perform as per business plan. The consultants structure and divide the strategy into different segments to monitor the results of each reform. The structured strategy to compete for the challenging market has flexibility for incorporating the changes. The ROI improvement from 5:1 to 20:1 is quite possible by implementing robust recommendations by the involved automotive consultant.
Automotive industry is one of the largest industrial sectors in the world. It is vast and includes locomotives, automobiles and aviation industries. It also includes wide range of activities that comprises of design, development, manufacturing, marketing and maintenance of automobiles. It is said to be the best billion dollar industry in the world. So, if you are planning to launch a business in this industry, trust me, this will surely benefit you as well as to the complete society. Thus, have a look at our write-up to get some brilliant ideas for starting up the best business in the automotive industry.
1. Automobile Repair Shop
Automobile repair business is one of the profitable and easy-to set up business that an entrepreneur can successfully start. As long as the people use cars and trucks, there will always be several reasons for them to visit an automobile repair shop. An automobile repair shop is a place where automobiles are repaired by mechanics and technicians. So, if you have the required knowledge on how to repair an automobile, this could be of great advantage.
2. Spare Parts Distributor
Daily, automobiles are being used in one or the other way, which means some or the other parts must be changed regularly. So, selling spare parts to local repair shops would be beneficial. If you have a previous experience, then you can easily start your own business in this field. But if you don’t have an experience, you can become an authorized spare parts dealer for any renowned manufacturing companies.
3. Start a Cab Service
Is your car lying in your garage? Then probably you can think of starting your own cab services or you can also lend your cars to some private companies and earn money. Daily, one in every three persons use cab facilities to reach their destinations. One of the best businesses related to transportation service is to start cab services in your locality. You must require a license to start your business in this field, but trust me; once you own it, you can easily earn profit out of it.
4. Mobile Car Wash Business
As there is a rapid rise in the number of car owners, they will need someone to get their car washed. Setting up a car wash business could be a profitable business for someone who doesn’t have much knowledge and experience. All you require is some investment on buying car wash equipments. However, the main thing you must consider is gaining trust from your customers.
5. Gas Station
All over the globe, there are so many people using their cars, trucks for different purposes. So, this has resulted in an increased demand for gas stations. A gas station is a place where vehicle owners can drive in to buy fuel. So, if you can successfully secure a place and get authorization for starting this business, then this could bring you enormous profits.
6. Auto Detailing
If you are thinking of making more money in today’s automotive industry, then auto detailing is the best option to choose. Auto detailing is usually done on used car for the purpose of increasing its selling rate by giving it a new look. So if you are thinking of investing in automobile industry, going for auto detailing will be of great advantage.
Blockchain Technology is one of the essential support system for automotive industry and it is has potential to deliver high end solutions. Blockchain Technology in automotive industry is streamline processes and manages all regulatory and compliance approvals in more efficient and easy way. Blockchain technology is one of the fastest growing technologies and it helps and supports to build future of automotive industry. By 2025, it is expected that automotive industry will spend 0.6% of total IT spend on blockchain technology. Blockchain technology is applicable in automotive industry in number of application like supply chain management, provenance & tracking, lease, insurance and other business processes.
Automotive industry is very huge with involvement of wide range of companies and organizations. It is considered as the one of the most vital economic sectors by revenue and production. Now a day, many automotive companies are interested in blockchain for creating more efficient workflows, and supply chain management. One of the major challenges with supply chain management in automotive sector is keep record, due to the system like faxes, spreadsheets, emails, phone calls and paper.
Blockchain Supply Chain Technologies helps to overcome these challenges. In addition, there are so many cases are coming out of fake part supplies from traders and manufacture. Recently in January 2017, the largest seizure of fake spare parts was found in the emirate, Abu Dhabi Department of Economic Development (ADDED) confiscated more than 500,000 pieces worth Dh15 million. This capture of fake spare parts of several major global vehicle brands has prevented potential threat to the safety of drivers and other road users in the UAE. In the automotive industry, fake parts will not only devalue the price of vehicles, but more importantly, will also compromise driver safety.
In addition to this there is always risk to recall of vehicle activities and such kind of incidence can demand very much transparency in the supply of parts and data. Blockchain is emerging as a perfect solution for such kind of issues and problems. This is expected to drive the market at fast pace in coming years.
North America Automotive Blockchain Technologies Market will increase as growing penetration rate in main city of the North America with higher expectation from major players of automotive industry. In North America, U.S. country was worth more than three quarters of the North America Automotive Blockchain Technologies Market at 82.01%. Asia Pacific Automotive Blockchain Technologies Market will increase as growing penetration rate in main city of the Asia Pacific with higher expectation from major players of automotive industry. Europe Region is expected to grow with significant CAGR during the forecast period.