WHAT’S NEXT?

What will your business look like in 10 years time?

If you have a business plan tucked away in a drawer or on a shelf, you probably have a clear answer for that. Maybe you have no plans at all.
We know from the 2022 State report that nearly two-thirds of Capricorn Members don’t have it. But it’s not too late to make it your New Year’s resolution.
Whether you have a plan or not, that 10 year timeframe is what really should focus the minds of anyone doing business in the automotive aftermarket market in Australia.
Why? By 2033, most automakers will switch to producing only electric vehicles.
Many, including Alfa Romeo, Lexus, Mercedes-Benz, Volvo and BMW, have committed to producing only electric vehicles (EVs) by 2030.
Nissan, Toyota, VW, GM, Honda, and Hyundai all share that commitment — pledging to go all-electric between 2035 and 2050 (if economic conditions, government regulations, or consumer demand don’t force faster change).
It’s a safe bet that by 2033, many of the cars that will be out of warranty and making their aftermarket debut will be electric vehicles.
In the following years, we can assume the percentage of EVs rolling down the garage apron will only increase, and the number of internal combustion engine vehicles will decrease proportionately.
Are you ready for that transition when it comes? If not, the good news is that you have the next decade to watch, study, and plan for.
Let the research and planning tasks begin today if you haven’t already. Capricorn’s blog, CapHub, is full of insight and knowledge designed to help you meet the challenges of not only today, but the future as well.
Our plan is for us all to be stronger together today, in 10 years, and for years after that.
To read CapHub, go to www.cap.coop/caphub

For more information about Capricorn Society membership, visit www.capricorn.coop