The global automotive aftermarket grew 4.7 percent in 2016 – which comes as no surprise given the emerging technology and e-commerce developments of the past year.
With e-commerce opening direct avenues to consumers, manufacturers can now sell directly to end users through sites like Amazon and Alibaba. And with a shrinking number of physical parts shops and auto-bodies where customers can go for replacement parts and repairs, customers are turning to online vendors to keep their vehicles road-worthy.
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And let’s face it — a car isn’t just a car anymore. With options like in-cabin WiFi connectivity, electronic engines capable of taking you 200 miles on a single charge, and in-car media centers, the simple automobile is moving under the IoT umbrella.
See the infographic below to learn about how after-sales service is being optimized as cars become more connected, and inventory and price management enter the 21st Century:
In less than five years, the IoT will account for more than 10 percent of the world’s data. The sheer amount of data that all this connectivity brings will enable automotive manufacturers to tap into data that optimizes vehicle performance in a whole new way.
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Instead of reactive maintenance, manufacturers can be more proactive about diagnostics, predicting when and where a specific vehicle may need a repair and ultimately achieving everyone’s overall goal: improving the customer experience.