How Accurate Data-Driven Decision Making will Determine Top Performers in the Automotive Sector
As the global economy assess what a “return-to-normal” looks like over the weeks and months ahead, the entire automotive industry in the United States must be prepared to address continued inventory constraints in the new and used vehicle markets, disrupted supply chains, rising consumer interest in digital retail experiences and an array of potential economic scenarios that affect OEMs, dealers and the rest of the ecosystem.
A clear understanding of the underlying data — including vehicle content, projected valuations, user sentiment, and more — will likely distinguish those who thrive in this environment from those that simply survive.
This was one of the conclusions that emerged from the recently held J.D. Power Auto Summit that convened leaders in the industry to explore what to expect in the new and used car market in 2021 and beyond.
To learn more about the trends we can expect to see, we sat down with Jonathan Banks, Vice President and General Manager of Vehicle Valuations at J.D. Power and Tyson Jominy, Vice President of Data and Analytics at J.D. Power. Click here for the full Q&A >