The Inflation Reduction Act of 2022 introduced a host of incentives and programs that will affect the demand dynamics for electric vehicles (EVs). The new law is not only rearranging who the front-runners are in the EV standings, but may also bring new demographic segments of the population into the market.

Now that we’re well into 2022, electric vehicles (EVs) are gaining tangible traction in the auto market. Ongoing product launches, infrastructure build-out, policy change and rising gas prices are greasing the ramp-up in consumer interest. But significant work lies ahead if the industry wants to accelerate the transition from early to mass adoption of EVs. A lack of information on the value and ownership propositions has left a large swath of new-vehicle shoppers reticent to make the electric leap. Automakers, retailers and other stakeholders need to ‘rewrite the script’ to change consumer attitudes and increase interest in EVs.

During the past two years, the home improvement sector experienced an uptick in sales as customers tackled do-it-yourself (DIY) projects to improve the functionality or aesthetics of their homes—and kill time. This elevated level of activity has reshaped the landscape of the paint market.

New vehicle production issues combined with steady demand fueled by continued population growth have created unprecedented profit margins on historically low volumes. The past 18 months have raised many pressing issues about the sector’s ability to sustain this high-octane dynamic. Among them is how industry executives can make the best decisions when conventional key performance indicators (KPIs) are out of whack.

Discussions around the technology of “connected cars,” often miss the much broader issues that the automotive industry is wrestling with to redefine the vehicle driving and ownership experiences, according to Dave Sargent, Vice President of Global Automotive at J.D. Power in an audio interview for journalists covering the Auto Revolution 2019 conference in Las Vegas on October 23-24.

The auto industry has not seen so much disruption and innovation since the rise of mass automobile production. Electric engines are on a trajectory to replace internal combustion technology that has underpinned the industry for over a century and mass deployment of digitally connected and automated features are transforming basic assumptions about the driving experience --so says David Amodeo in a podcast interview for journalists covering the Auto Revolution 2019 conference Las Vegas on October 23-24. 

Given the massive amount of change to which consumers are being exposed -- especially when it comes to their mobile lives -- the ability to carefully track the complex evolution of customer sentiment is emerging as a critical discipline among leading players in the different sectors of the automotive industry.

As the mobility industry explores alternative modes of transportation, a maturing rideshare sector, various levels of autonomous transportation -- and many other innovations -- adoption will largely depend on establishing a deep sense of trust among consumers, according to Kristin Kolodge, Executive Director of Human Machine Interface (HMI) and Driver Interaction at J.D. Power.

While the emergence of internet of things (IoT), artificial intelligence (AI) and next generation cloud computing technologies are creating new opportunities to capture deep insights into the driving and vehicle ownership experience, the automotive industry must take care to ensure consumers have a high level of comfort and trust in Voice of the Vehicle (VOV) initiatives, says Dave Sargent, Vice President of Global Automotive for J.D. Power, in an interview prepared for the upcoming J.D. Power Auto Revolution event in Las Vegas on October 23-24.

The automotive industry must engage in a comprehensive and high-profile discussion on the implications of intelligent vehicles to ensure consumer trust and adoption, according to Bernardo Rodriguez, Chief Digital Officer at J.D. Power, in an audio interview for journalists covering the Auto Revolution 2019 conference Las Vegas on October 23-24. 

Vehicle quality is the best it's ever been. Ever. Owners made it very clear in the J.D. Power 2018 Initial Quality StudySM (IQS), and this was the fifth year in a row that we have seen the industry improve.

Digital transformation is changing the way that people buy, get information and invest. Though wealth management is a relative latecomer to digital transformation, today's wealth management companies and their customers are now relying increasingly on digital processes to purchase wealth management services -- as well as for some basic investment advice, says Michael Foy, Senior Director, Wealth Management Practice J.D. Power, in a new interview for journalists.

Hurricanes and other natural disasters invariably cause price increases in the automobile market across the affected area, with a ripple effect that extends beyond the direct points of impact. The exact effect of each event, however, differs, so it is important to have historical data as a benchmark to help predict the pricing impact, says Ben Bartosch, Manager of Forecast Analytics at J.D. Power, in a new audio interview for journalists.

As new technologies and communication channels create more options for consumers seeking to optimize the management of their financial lives, the wealth management sector must put the customer experience at the center of how, when and where to apply new services based on innovative capabilities, says Craig Martin, Managing Director, Wealth & Lending in the Services Industries Division at J.D. Power.

As digital channels increasingly displace traditional brick-and-mortar access to financial transactions, customer experience (CX) management and transformation is becoming a critical capability for large financial institutions, says Jim Miller, Vice President of the Banking and Credit Card Practice at J.D. Power, in an interview for journalists.

Many new-vehicle buyers are unaware that a lot of today's technology features are the underpinning of tomorrow's autonomous vehicles. Taking automatic emergency braking as an example. Nearly two-thirds of consumers do not recognize this as an autonomous feature.

Given that a consumer's technology experience is highly predictive of their future technology desire and brand loyalty, automakers should carefully examine the user experience and provide customers with useful, reliable and valuable features. As always, the consumer will remain the ultimate judge for determining the value of technology and what should be incorporated into their next vehicle.