Boston Consulting Group (BCG), in collaboration with OpenAI, has released a significant report titled “Will AI Become the Best Car Sales Advisor?” The study indicates that generative AI could dramatically change the often fragmented and frustrating car-buying experience into a smooth, customized journey. The findings suggest that car manufacturers who integrate AI-powered assistants now could realize up to a 20% increase in revenue by 2030, while those that hesitate may lose up to 15% of their earnings. By that time, generative AI could influence 40 to 50 million car purchases each year, establishing AI as a key advisor in the automotive retail sector.
Natarajan Sankar, the India Leader for Automotive and Industrial Goods Practice, noted, “GenAI is poised to revolutionize car sales globally. By 2030, it could significantly impact 40 to 50 million annual purchases, providing a potential 20% revenue increase for proactive automakers, while slower adopters may face a 15% revenue decline. The ultimate goal extends beyond increased sales; it involves rebuilding trust through seamless, transparent, and personalized buying experiences. In rapidly evolving markets like Asia, the pace of adaptation will determine the leaders.” Key insights from the report include: By 2030, generative AI will meaningfully influence over 40 million annual car-buying journeys worldwide.
Agile original equipment manufacturers (OEMs) may experience a 20% increase in sales, while slower competitors risk a 15% decline due to customer loss and falling prices. Generative AI assistants will serve as neutral, brand-agnostic advisors, assisting buyers in car configuration, financing comparisons, and test drive scheduling. Brand loyalty may diminish as consumers prioritize objective factors such as electric vehicle range, price, and lifecycle emissions over traditional brand loyalty. Strategies should include increasing visibility in AI assistants, collaborating with multi-brand marketplaces, and developing branded AI sales advisors for highly personalized experiences.
