The Millennial generation has sometimes gotten a bad rap in recent years. Seriously, type in “millennials are killing” in the search bar of your browser. The clickbait centered on this generation has reached ludicrous levels. But let’s stay composed and think about the unique attributes of this demographic, especially in terms of moving toward an electrified automotive future.
Electric vehicles of any kind have faced an uphill battle for acceptance for some time. The Honda Insight debuted in 1999 as the first, true mass market hybrid in the States and was discontinued in 2006. It re-debuted in 2008, and was discontinued again in 2014. Why? Lack of interest and poor sales. Most consumers are only familiar with one hybrid vehicle, the Prius. Kudos, Toyota.
While engineers at traditional automakers—and techies at Silicon Valley companies—race to create autonomous vehicles, each brand’s technology reputation will partially determine which of these companies wins the future.
Digital apps. Ride sharing. Car sharing. Voice Recognition. Over-the-air updates. Vehicle-to-vehicle communications. Autonomous vehicles.
If you were to read any automotive, technology or business publication on any given day, chances are good you’ll find a headline addressing one of these topics. What’s going on here, and why are the media so focused on these topics?
Apple, Google and Amazon are unquestionably technology innovators with very strong brands. When they launch a new product, I’ve learned to sit up and take notice. Certainly, not all of their new products have been massively successful (the smart watch is one good example), but even those with marginal success tend to have a ripple effect on other products and industries over time.
The first time I used Uber on a business trip—getting a ride from LAX to a client meeting 50 miles away—many of my coworkers recoiled in shock. Although they’re generally a worldly, tech-friendly bunch, I was peppered with questions like, “Isn’t that too far?”, “Wasn’t that really expensive?” and “What would you have done if you couldn’t find a car available to get back?”
The recent disclosure that Wells Fargo employees had opened more than 2 million accounts without customer permission or knowledge sent shockwaves throughout out the financial services industry. The case has spurred financial firms of every type to take a hard look at their sales practices and controls.