Being transformative and resilient have already been regarded as golden principles in the business world. For today’s players in the commercial vehicle industry, the qualities could be extremely vital. This article will discuss five current go-to-market challenges and explain why we should make changes.
Increasing Demands on Omnichannel Sales and Bespoke Products
For both individual buyers and business customers, a seamless integration of offline and online purchasing experiences is becoming increasingly indispensable. In addition, more and more clients are starting to require customised products and services, and the individualisation of vehicles is predicted to be a popular trend in the future.
The Scale-up of a New Value Pool and a New Business Model
In the next decades, truck sales will no longer be exclusive to single vehicles. Instead, the change in offering a new value pool, including but not limited to fleet management, uptime management, and charging infrastructure, will make the purchases more complex, integrated, and expensive. Besides, a business model named the XaaS, or Anything-as-a-Service, is going to be more common in the future. The conduction of recurring life cycle services means manufacturers and suppliers adjust the one-time capital expenditure investment to recurring operating expenditures.
Cost Pressure in the Highly Competitive Market
Having a promising global market, the commercial vehicle industry constantly attracts new participants; meanwhile, existing major regional players employ strong manufacturing capabilities, established brand reputation, and robust distribution networks to maintain their market position. Moreover, the highly competitive industry also confronts challenges from multi-level environmental regulations and emerging technologies. In that case, it is crucial to realise cost pressure and always be ready to take strategic transformations.