It’s time to work effectively with vehicle data
It’s been a pretty hard time right now for car market players. Some automakers have temporarily closed factories and dealerships have suspended operations. At the moment, there are too many negative factors affecting the car market. Forecasts for dealership sales of new and used cars, as well as service, are not comforting. Technologies can help, namely analytics of data collected.
We have a lot of data about connected vehicles. OEMs, national sales companies and dealerships have a lot of such data, too. We know how to make this data work for you, and we can help you increase revenue by 30% by offering drivers from various categories specific sets of products and services, including appropriate accessories, new car sales, and upcoming service visits. And all customer data collection and analysis is done in full compliance with national data privacy regulations and adhering to highest data security standards.
Connected vehicle data is constantly being accumulated and analyzed from all available sources. For every user we have a certain number of indicators that characterize that user in particular. These data sets enrich and complement each other, allowing you to find a lot more insights and draw more valuable conclusions about driver behavior. In my opinion, the most useful vehicle parameters are mileage and vehicle health data, which our European customers have confirmed, too. The mileage is needed to build a plan for predictive maintenance and to understand approximately when the customer will arrive with what problem. Vehicle health check allows the dealer to remotely see all errors, and based on them to offer the customer a specific service. All this is provided by data and integration with the DMS system. When the customer gets a low battery notification, the same thing appears in the app. And, accordingly, dealers can also see this. Working effectively with vehicle data allows you to increase service arrivals, which means increasing sales of spare parts and services.
Data analytics from connected cars also allows you to research and evaluate drivers, dividing them into segments based on their driving style and vehicle usage patterns in order to offer drivers from different categories specific sets of products and services, including appropriate accessories, new car sales, and upcoming service visits. For example, the following clusterization of clients is possible: night drivers, safe drivers, drivers who drive only in the city, or on the same route. By making such clusters, the dealer can build a specific legend. If it is a night driver, we can see it by the speed and time, sharp braking and acceleration, and we can offer them new pads or oil.
Note that not only dealers, but also automakers can benefit from data analytics. After all, if customers pass on time, then the automaker will have to pay less for warranty repairs and plan warranty stocks more effectively. The manufacturer, with information about remote diagnostics, can analyze what errors occur for customers and what it is related to: the battery, the fluid level, etc. Based on this, it can build its warranty policy and find errors in production.
Let’s add to the difficult current conditions the requirements that have recently appeared for car manufacturers. Since 1 January 2020, new regulations are in effect setting CO2 emission performance standards for new passenger cars and vans. Manufacturers will have to meet new stricter targets set for the fleet-wide average emissions of new cars and vans registered in a given calendar year. By 2025, manufacturers will need to reduce fleet-wide emission by 15% for both cars and vans, compared to 2021 levels. By 2030, they will need to reach a 37.5% reduction for cars and a 31% reduction for vans.
Transport tech can reduce the impact of the auto industry on the environment in several ways:
● Connected car technology helps reduce fuel consumption
● Car-sharing means fewer cars on the road
● Electric cars reduce reliance on fossil fuels
Car market analysts have already begun to calculate how much the car sales market will decline in 2020. But do not forget that if sales of new and maintained vehicles may fall, at the same time, the number of sales of spare parts and services will increase. This data is aimed at supporting the user with the right services at the right time, and helps the dealers not to annoy an already intimidated customer.
