Difficult times come with subtle opportunities, and all it depends on is how well we apply the learnings from these difficult times to convert them into opportunities. The year 2019 was a challenging one, but we also saw the best of mobility solutions. Whether it were connected cars or electric SUVs, 2019 saw a perceptible change in how the automotive industry was going to shape up in the coming years. The sector has always been at the forefront of research and development (R&D) and is probably living up to expectations, especially in the last decade.
Discerning millennials want more in terms of technology and value for money. Similarly, they are also aware of the surroundings and environment overall. And the automobile industry is duty-bound to appreciate what they want. In the days to come, green and smart mobility is going to define the whole sector as millennials believe in social brands that offer real value to society and people.
As far as the Indian automobile sector is concerned, it cannot be isolated from the world. Or for that matter, it cannot be isolated from the overall economy either. The cyclically muted demand in 2019 has been one of the challenges the automobile sector too faced, like the other sectors did. However, everyone is now cautiously optimistic for the new year as the last quarter has started to provide better signals.
While there are challenges, the Indian market gives leading companies a lot of opportunities too to innovate and implement new ideas to prepare for the future. As one of the most dynamic and fastgrowing markets, ‘shared’, ‘connected’ and ‘zeroemission mobility’ are the future of the Indian automobile industry. The government’s push for clean mobility is the right way to go.
This story is from the January 17, 2020 edition of Forbes India.
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This story is from the January 17, 2020 edition of Forbes India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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