Report: Creating the First EPM Index for the Automotive Industry
The automotive industry has made significant strides in the movement toward offering enhanced Experiences Per Mile over the past several years. The vehicle’s value once measured by its mechanical performance, exterior styling and driving dynamics has now changed, and it’s very visible to automotive industry “insiders.” As consumers ambitiously strive for new ways to connect to their world, both in and outside their vehicles, it’s no surprise that the way a consumer measures a car’s worth is starting to move toward the experiences provided by a vehicle.
There is a need to shape the future of personal mobility by shifting away from evaluating the speed, paint color and cornering capabilities to consumer centric mobility experiences. The future of mobility lies in redefining what “moves consumers” emotionally instead of exclusively on what “services and features are offered.”
As such, this report summarizes an exploratory research study that was conducted by IPSOS on behalf of the EPM Advisory Council to explore whether creating a new experience based metric for the Automotive industry is possible. Current measurements focus on satisfaction and quality of the features and functions inside the vehicle. The goal was to create an alternative and actionable metric to measure a vehicle based on its ability to provide the consumer with more fulfilling Experiences Per Mile.
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