Mobility significantly decreased in many regions as the COVID-19 pandemic spread in 2020. With industry stakeholders focused on keeping their businesses running, preserving margins, and protecting employees, it sometimes seemed as if the sector was at a standstill. After all, companies that were struggling to survive would likely gain little by investing in innovative technologies or mobility services. And with car sales plummeting, few consumers appeared willing or able to purchase new vehicles.
This view of the mobility industry, however, fails to account for several important developments. Although the COVID-19 pandemic has temporarily slowed growth, the mobility sector is undergoing a profound transformation and opening new opportunities for players that are willing to invest in vehicle electrification, autonomous driving, and other revolutionary products and services. What’s more, our recent consumer survey of around 7,000 respondents worldwide, conducted in cooperation with the World Economic Forum, has highlighted several trends that make it imperative for mobility players to act now if they want to emerge stronger in the next normal.1 Here’s what we found.
