The Prof G Pod with Scott Galloway The State of the Global Automobile Market – with Jim Rowan, CEO of Volvo
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Dec 15, 2022 Jim Rowan, the CEO of Volvo Cars, brings a wealth of experience from leading Dyson and BlackBerry. He dives into the transformative landscape of the global automobile market, emphasizing the rise of electric vehicles and the challenges faced by traditional manufacturers. Rowan discusses how Gen Z's preference for subscription models is reshaping car ownership. He also reflects on the impact of tech giants like Tesla on the industry and shares valuable life lessons inspired by his father's journey as a mechanic.
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Automotive Industry Transformation
- The automotive industry is shifting from hardware to a combined hardware, software, and services model.
- Direct customer engagement is key, challenging the traditional dealership model.
Evolving Role of Dealerships
- Dealerships still have a role, but the focus is shifting to direct customer engagement and centralized inventory.
- Price transparency is crucial for customers.
Electric SUV Design
- Building electric SUVs from the ground up, as purpose-built EVs, offers significant advantages.
- This approach allows for better design, ride stability, and cost efficiency.