Electric Vehicle Retail Strategies and Formats in North America and Europe, 2017

Electric Vehicle Retail Strategies and Formats in North America and Europe, 2017

In-store Digitization and Innovative Store Formats to Transform Dealership Experience, Poised to Enhance Customer Interactions and End-to-end Purchase Process

RELEASE DATE
20-Nov-2017
REGION
North America
Deliverable Type
Market Research
Research Code: MD23-01-00-00-00
SKU: AU01591-NA-MR_21136
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Description

Electric vehicles are disrupting the industry with their unique value proposition. This has led various luxury OEMs to focus on expanding their EV product portfolio. Although battery electric vehicles and fuel cells are being touted as a sustainable alternative transportation solution, slow rate of adoption can be attributed toward consumer awareness and common misconceptions about electric range and e-technology. Inherent drawbacks hinder the adoption of these vehicles and the primary challenge lies with changing consumer perception towards EVs. Unlike conventional car purchase, EV consumers need to be educated about recharging to HMI solutions the car offers. OEMs need to enhance customer purchase experience and their journey. Moreover, with changing ownership trends with regards to electric cars is forcing automakers to restructure their retail concept. Owing to this OEMs are innovating their retail strategies toward futuristic digital stores and retail models ensuring adoption of VE tools such as VR and AR technologies. Furthermore, automakers are keen on enhancing customer purchase journey through retail strategy integration from various leading luxury brands and through the use of technology.

Among performance, innovation, energy efficiency, luxuriousness, and ease of ownership, a strong brand positioning message is required in at least three of the parameters for the EV brand to be successful. Customer centric retail design which will integrate and digitize different platforms to ease the overall process, disrupting the market of EV retailing The segment also needs targeted marketing to women and baby boomers. This study analyses various retail strategies (current & future) of major luxury OEMs.

Objectives of the study:
• To understand OEM’s brand positioning for electric cars and their branding strategy.
• To evaluate their marketing strategies for current and future models.
• To capture various in-store digitization trends with reference to electric vehicles.
• To understand the consumer journey from look up till purchase and how OEM’s retail features affect purchase decision.
• To benchmark automakers dealership staff training and certification. 6.To outline the various leasing plans adopted or devised by OEMs to aid in enhanced consumer experience.

Key questions this study will answer:
• What is the total market for xEV traction motors till 2025?
• What are the various OEM e-motor strategies for various types of hybrid and electric vehicles?
• What is the future of eMotor sourcing trends and manufacturing focus of OEMs?
• What is the total market for xEV vehicles, forecast till 2025?
• How is the region wise market for eMotors and technology adoption till 2025?

RESEARCH: INFOGRAPHIC

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Table of Contents

Executive Summary—Key Findings

EV Portfolio Branding—Present and Future

EV Product Positioning—The Broader Competitive Space

OEM Marketing Mix—Comparative Landscape

Creating Customer Awareness—Tesla’s Methodology

OEM Retail Strategies

Leasing Features Analysis—Identifying the Grey Areas

Research Scope

Research Aims and Objectives

Key Questions this Study will Answer

Research Methodology

Product Segmentation

EV Segmentation

EV Branding Perceptive Attributes—BMW

EV Branding Perceptive Attributes—Volvo

EV Branding Perceptive Attributes—AUDI

EV Branding Perceptive Attributes—Tesla

EV Brand Positioning—Target Demographics

EV Portfolio Branding—Present and Future

Relative Perception Mapping—OEM Comparison

BMW Product Positioning—EV vis-à-vis ICE

AUDI Product Positioning—EV vis-à-vis ICE

Volvo Product Positioning—EV vis-à-vis ICE

EV Product Positioning—The Broader Competitive Space

Branding and Positioning—Critical Success Factors

Creating Brand Awareness—Tesla’s Methodology

Creating Brand Awareness—BMW’s Methodology

Using Social Media to Make Wins—Volvo And AUDI

OEM Marketing Mix—Comparative Landscape

Marketing Strategies and Tools—Critical Success Factors

BMW i’s Approach to Dealership Strategy

BMW i—Dealership from Concept to Reality

BMW Dealership—Staffing and Training

Volkswagen Dealership for EVs

Tesla—Key Challenges and Remediation Strategies

Tesla Organizational Development Programs—Key Points

Tesla Dealership for EVs

Volvo’s Dealership Strategies and Training Philosophy

Volvo’s F&I Offerings in US & Dealership Training Curriculum

Financial Lease Type Segmentation

Financial and Leasing Feature Analysis

Leasing Features Analysis—Identifying the Grey Areas

Store Type Segmentation

Trends in Automotive Retail Stores

Influencing Customer Experience Across the Lifecycle

Challenges for EV in Target Markets

Digitization Retailing (Key Performance Index) KPIs

OEM Retail Strategies

BMW Retail Highlights

Volkswagen Retail Highlights

Tesla Retail Highlights

Volvo Retail Highlights

EV Only Retail Store or Mixed Retailing Concept?

Audi City

CarWow—Effective Way to Buy Cars Online

KPI Significance by Vehicle Store Type

In-store Digitization Case Study—Tesla Motors

Digitizing through Reality Tools (VR/AR/MR)

BMW i3—Enhancing Customer Experience

Recommended EV Retail Elements—Critical Success Factors

Growth Opportunity—Social Collaboration

Strategic Imperatives for EV Retailing

Conclusion—Future Innovations

Conclusion—Automotive Leasing: Changing Landscapes

Conclusion—The Future Retail Format

The Future of EV Retail—3 Big Predictions

Legal Disclaimer

Abbreviations and Acronyms Used

Learn More—Next Steps

Additional Sources of Information on Study Topic Area

Market Engineering Methodology

Electric vehicles are disrupting the industry with their unique value proposition. This has led various luxury OEMs to focus on expanding their EV product portfolio. Although battery electric vehicles and fuel cells are being touted as a sustainable alternative transportation solution, slow rate of adoption can be attributed toward consumer awareness and common misconceptions about electric range and e-technology. Inherent drawbacks hinder the adoption of these vehicles and the primary challenge lies with changing consumer perception towards EVs. Unlike conventional car purchase, EV consumers need to be educated about recharging to HMI solutions the car offers. OEMs need to enhance customer purchase experience and their journey. Moreover, with changing ownership trends with regards to electric cars is forcing automakers to restructure their retail concept. Owing to this OEMs are innovating their retail strategies toward futuristic digital stores and retail models ensuring adoption of VE tools such as VR and AR technologies. Furthermore, automakers are keen on enhancing customer purchase journey through retail strategy integration from various leading luxury brands and through the use of technology. Among performance, innovation, energy efficiency, luxuriousness, and ease of ownership, a strong brand positioning message is required in at least three of the parameters for the EV brand to be successful. Customer centric retail design which will integrate and digitize different platforms to ease the overall process, disrupting the market of EV retailing The segment also needs targeted marketing to women and baby boomers. This study analyses various retail strategies (current & future) of major luxury OEMs. Objectives of the study: • To understand OEM’s brand positioning for electric cars and their branding strategy. • To evaluate their marketing strategies for current and future models. • To capture various in-store digitization trends with reference to elect
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Pooja Bethi
Industries Automotive
WIP Number MD23-01-00-00-00
Keyword 1 Electric Vehicle
Is Prebook No
GPS Codes 9800-A6,9807-A6,9813-A6,9882-A6,9AF6-A6,9B07-C1