Future Strategic Vision for an Automotive OEM for 2030
Sector
Automotive
PESTEL Analysis, Benchmarking, Trend Forecasting, Lifestyle Forecasting, Co-creation Workshop, Expert Validation
Background and Content
With multiple classifications within the SUV segment and with each having their own target groups, it is crucial to identify and understand the varied needs for each.
Scope of work
A leading global automotive company approached Tata Elxsi to understand the consumer behaviors, needs and lifestyle trends amongst Indian Consumers. This involved understanding how current trends will evolve in the coming years and identifying needs and expectations from a passenger vehicle in 2030.
Solution
The project began with secondary research involving conducting a deep- dive into the PESTEL movements, emerging mega trends and competitive benchmarking to understand what consumers would expect from vehicles in 2030. This would help the OEM create a strategic roadmap for the future.
During primary research, consumer workshops were conducted across the region to understand their lifestyles, behavior, aspirations and expectations and perceptions around the car body styles and features for both the exteriors and interiors. The study aimed to qualitatively gain an understanding of consumer definitions of premium.
We also brought in experts in the field of automotive design and journalism to validate the insights gained from consumer interactions and provide perspective on the future of the industry and premium passenger vehicles.
Impact
The project culminated with creating a strategic vision for 2030 which included:
- Mapping the future implications of the Megatrends on the Automotive Industry and Strategic focus areas for the OEM
- Emerging needs and preferences in body styles and features from Passenger Vehicles in 2030
- Microtrends and consumer expectations to prioritize for 2030 in terms of ‘must have’ features for passenger vehicles
