Future of Automotive Retail Summit: Industry Insights

The annual Future of Automotive Retail (FAR) Summit, presented by Maritz Automotive, brought together OEMs, dealers, technology disruptors, academics and industry experts to discuss the state of the automotive industry and its future. 

FAR-banner

The event was held at The Resort at Pelican Hill in Newport Beach, CA, on March 3-5, 2020.  Speakers and panelists focused on the changes impacting modern retailing, and how businesses are positioned for success in a rapidly evolving industry.

 “This is the third annual event for us,” said Terry Erwin, SVP at Maritz Automotive. “Based on feedback, we feel we’ve really hit on something with this mix of people that is highly valued. This is a unique opportunity for us to bring together leaders from our industry and talk about how we’re focusing on and planning for changes in the mobility space – changes driven by technology and consumer preference about how they want to manage their transportation needs.”

The first annual winners of the Maritz Scholarship for Northwood University students in the school of Automotive Marketing and Management were also announced at the event. Maritz supports the young leaders in the industry who will soon be the future of automotive. The scholarship is valued at $12,500 and is divided evenly amongst the awarded recipients. The recipients of the scholarship were the following individuals: Sam Griffith, Will Govan and Blake Holland.

We live in a world and an industry that is constantly changing. Customers are more sophisticated now than ever, expecting a friction-less and flawless customer experience in every transaction. It’s more crucial now than ever for auto manufacturers and dealerships to maximize their online presence for consumers to research and shop in the ways they prefer. Ridesharing, autonomous vehicles and connected cars are all shaping how we as a society will use vehicles and transportation in the future. 

That’s why the conference is critical to the health of the industry – it allows the leaders in automotive to come together to share vision, discuss insights and define how we will continue to connect with customers in 2020 and beyond.

A focus of the FAR Summit this year was connecting with customers and meeting them where they are in their individual journeys. A drawing was rendered live at the event telling the stories of modern customers, their expectations, and how we as automotive retailers can provide the best possible car buying journeys for them.

We look forward to welcoming guests again for another chance to share, collaborate and innovate at next year’s event.

FAR-Session

Panel: Connecting with the New Auto Customer

Moderator: Mike Davis

Panelists: Tim Englehart, Michael Wall, Jesse Wolfersberger, Kelly McNearney

FAR-JourneyMap

The stories of modern customers, their expectations, and how we as automotive retailers can provide the best possible car buying journeys for them. The drawing was rendered live at the FAR Summit by Five Elements Consulting Group.

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FAR-outdoorgolfcourseFAR-cocktails

Picturesque backdrops at The Resort at Pelican Hill in Newport Beach, CA.

 

Topics: Automotive, Digital Experience