Is VR the auto industry's sleeping giant?

John Kiser and Narith Panh

Discusses what problems marketers may face when using virtual reality technology in the automotive category by evaluating results from research in Germany that compared a VR showroom with a real studio.

Introduction

The transportation industry is on the cusp of being disrupted in a way we have never seen before. The convergence of emerging technologies such as electrification, autonomous & connected cars, and shared mobility (e.g. car-sharing & ride-hailing) have challenged traditional auto companies to think about the future of their current business models. Many have criticized the auto industry's slow innovation process, particularly in comparison to the fast-paced speed of Silicon Valley companies. New smart phone designs come out every year, while new cars take three to four years for just a mid-model change.

Figure 1. Global Automotive R&D Spending...

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