I have the amazing opportunity to work for a company that truly values an entrepreneurial spirit and embraces invention. Cox Automotive is comprised of numerous companies that primarily service the retail and wholesale automotive industries. In the US, the automotive industry has been in a mature phase of its life cycle for many years. I work for Manheim Auto Auction, which is a company within Cox Automotive. Manheim was established in 1945 as a wholesale vehicle auction. Manheim is extremely large in scope and has sold over 100 million cars since 1945. Currently, Manheim registers just under 7 million cars annually (Manheim, n.d.). With this business comes complicated compliance related issues and overwhelming operational challenges. Despite
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Many trends are initiated through new technology and they posses the the potential to permanently alter the overall industry (Gao, Kaas, Mohr, & Wee, 2016). From fun small ideas, such as a tinder type phone app for choosing your next vehicle, to a fully autonomous car the breadth of new ideas is wide. The future of the automotive industry, or any industry for that matter, can not be predicted with full certainty. Reports indicate that as many as 15 percent of new cars sold in 2030 could be fully autonomous (Shahani, 2014). This technology has the ability to change the playing field. Traditional car manufacturers need to leverage this time to fully embrace the technological changes, as well as the social shift. Companies such as Google have announced their interest to enter into the large and profitable automotive industry. How amazing would it be, if I could safely do my homework for this class during my commute time? Today’s consumer cares less about driving a prestigious car and more about its technology, functionality, and how it contributes to their overall quality of …show more content…
There are a few companies that currently offer shared vehicles programs, for example, Car2go which is located nationally in 15 major metropolitan areas. Car2go has a fleet of smart cars, that can be picked up anytime you see one near you or though a reserve system (Car2go US, n.d.). Personally, I have driven a smart car, and I would prefer not to drive one again. However, if you live in Washington DC and don’t want to own a car, but need one from time to time, for forty-one cents per mile you can hop in one of their little cars. These vehicles though are not very practical for families or anyone with more than one passengers. A newer concept that has yet to be fully developed is a shared fleet of vehicles that offer a wider . The idea is that a customer could pay a weekly or monthly lease rate based on the type of vehicle borrowed. For example, if I am going on vacation to the beach I might take a minivan for the week. If I am commuting far distances I might choose a hybrid, and if I have a special date with my husband I might borrow a convertible for the occasion. This directly ties to the shift in social values and attitudes tied to car ownership. The challenge with this type of system is inventory meeting demands and still remaining profitable. This would be an opportunity for an OEM who can acquire a wide range of vehicles at a reduced cost and pull from a larger inventory overall.
Many trends are initiated through new technology and they posses the the potential to permanently alter the overall industry (Gao, Kaas, Mohr, & Wee, 2016). From fun small ideas, such as a tinder type phone app for choosing your next vehicle, to a fully autonomous car the breadth of new ideas is wide. The future of the automotive industry, or any industry for that matter, can not be predicted with full certainty. Reports indicate that as many as 15 percent of new cars sold in 2030 could be fully autonomous (Shahani, 2014). This technology has the ability to change the playing field. Traditional car manufacturers need to leverage this time to fully embrace the technological changes, as well as the social shift. Companies such as Google have announced their interest to enter into the large and profitable automotive industry. How amazing would it be, if I could safely do my homework for this class during my commute time? Today’s consumer cares less about driving a prestigious car and more about its technology, functionality, and how it contributes to their overall quality of …show more content…
There are a few companies that currently offer shared vehicles programs, for example, Car2go which is located nationally in 15 major metropolitan areas. Car2go has a fleet of smart cars, that can be picked up anytime you see one near you or though a reserve system (Car2go US, n.d.). Personally, I have driven a smart car, and I would prefer not to drive one again. However, if you live in Washington DC and don’t want to own a car, but need one from time to time, for forty-one cents per mile you can hop in one of their little cars. These vehicles though are not very practical for families or anyone with more than one passengers. A newer concept that has yet to be fully developed is a shared fleet of vehicles that offer a wider . The idea is that a customer could pay a weekly or monthly lease rate based on the type of vehicle borrowed. For example, if I am going on vacation to the beach I might take a minivan for the week. If I am commuting far distances I might choose a hybrid, and if I have a special date with my husband I might borrow a convertible for the occasion. This directly ties to the shift in social values and attitudes tied to car ownership. The challenge with this type of system is inventory meeting demands and still remaining profitable. This would be an opportunity for an OEM who can acquire a wide range of vehicles at a reduced cost and pull from a larger inventory overall.