As the automotive industry prepares for 2024, it is evident that innovation, new technologies, and a focus on brand building will be of utmost importance in automotive marketing. With a projected 2-3% growth in the global automotive market, the industry is poised for a more balanced production and sales landscape, indicating a shift towards greater equilibrium between supply and demand.
According to Angela Zepeda, the chief marketing officer at Hyundai, the adoption of electric vehicles is expected to continue to increase in 2024, while the development of autonomous vehicles is also set to grow exponentially in the coming years. Additionally, cars are becoming more interconnected, communicating with other software systems and collecting data from their surroundings. With more vehicles being purchased online, the automotive industry is moving towards complete end-to-end transactions.
Charlotte Blank, the chief marketing officer at Jaguar Land Rover (JLR), anticipates a more seamless digital car shopping experience in 2024, as automakers and retailers work together to create seamless omnichannel experiences for customers. Similarly, Allyson Witherspoon, the global chief marketing officer of Nissan Motors, highlights the dynamic nature of the automotive landscape with the introduction of new brands and models globally.
Nissan’s focus for 2024 is on product transformation and building brand equity through personalised customer experiences. With the continued development of AI in marketing, Nissan is looking to push the boundaries of immersive digital experiences while focusing on emotional connections between consumers and the company’s products and technologies.
Marisstella Marinkovic, Vice President and Chief Marketing Officer at Nissan US, emphasises the importance of engaging with consumers through cultural connections and leveraging partnerships to bring fans closer to their favourite players and teams. She also acknowledges the growing importance of collecting feedback from the next generation of drivers to stay current on their preferences and priorities.
The industry is also seeing a shift in demand for more sustainable car options, driven by many younger consumers looking to lower their carbon footprint. By 2025, 25% of cars sold are expected to have electric engines, with a growing emphasis on sustainability in terms of vehicle manufacturing processes and the use of eco-friendly materials.
As the automotive industry continues to evolve, Mercedes-Benz USA’s chief marketing officer, Melody Lee, highlights the pivotal role of dedicated charging networks in accelerating the widespread adoption of electric vehicles. She also expects to see a growing emphasis on sustainability, in line with environmentally conscious consumers.
Looking ahead to 2024, Kimberly Ito, vice president of marketing at Mitsubishi Motors North America, underscores the importance of crafting messaging that tells a brand’s story and captures the attention of consumers amidst the clutter of marketing efforts. She predicts a mix of scatter and laser approaches in reaching consumers, with a focus on speaking directly to potential customers.
In conclusion, the outlook for the automotive industry in 2024 is characterised by innovation, technology, and a growing emphasis on sustainability. As the industry continues to evolve, the focus on brand building and creating seamless experiences for customers remains a priority for automotive marketers.
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