General Motors CEO Mary Barra said during the company’s annual Investor Day presentation that GM plans to grow its subscriptions as part of a plan to double revenues.
According to a transcript of her remarks from CNBC, Barra said the company’s “very successful OnStar subscription business” has given GM the knowledge it wanted to do more in that vein.
“We’re going to build on that,” she said. “And what’s enabling this and the ability to offer so many software services is our VIP, or vehicle intelligent platform, that allows us to do over-the-air updates almost to any system in the vehicle,” she said.
GM will be working with sensors and cameras, she said, “leveraging that functionality to provide better value for the customer.”
Barra announced another goal for the company is to lead in electric vehicle (EV) sales, although she didn’t specify a timeline, according to CNBC.
Tesla currently dominates the EV category with 63% of the market share, while GM only has 9%, CNBC reported. GM plans to roll out a new electric Silverado pickup truck in January at the Consumer Electronics Show (CES).
CNBC reported that GM has been “trying to pivot aggressively into using electric and autonomous vehicles as the basis for Software-as-a-Service, using subscription so that you can say, ‘OK, I will pay X amount per month to have this service.’”
In September, PYMNTS reported that GM is trying to transform the ways people use smartphones, with next-generation vehicles now slated to come with over-the-air upgrades, personalization options and app selections.
Read more: GM Moves to Make Connected Vehicles Perform Like Smartphones
The automaker said its intent is to “grow revenue beyond vehicle sales and earn customer loyalty for a lifetime.”
The new upgrades to select next-gen vehicles in the GM roster will begin in 2023. And some upgrades will be able to be saved to authenticated accounts and thus transferred between similarly equipped GM vehicles.
Basic Motors CEO Mary Barra stated in the course of the firm’s annual Investor Day presentation that GM plans to develop its subscriptions as a part of a plan to double revenues.
In response to a transcript of her remarks from CNBC, Barra stated the corporate’s “very profitable OnStar subscription enterprise” has given GM the information it wished to do extra in that vein.
“We’re going to construct on that,” she stated. “And what’s enabling this and the power to supply so many software program providers is our VIP, or car clever platform, that permits us to do over-the-air updates nearly to any system within the car,” she stated.
GM will probably be working with sensors and cameras, she stated, “leveraging that performance to supply higher worth for the client.”
Barra introduced one other objective for the corporate is to steer in electrical car (EV) gross sales, though she didn’t specify a timeline, based on CNBC.
Tesla at present dominates the EV class with 63% of the market share, whereas GM solely has 9%, CNBC reported. GM plans to roll out a brand new electrical Silverado pickup truck in January on the Shopper Electronics Present (CES).
CNBC reported that GM has been “attempting to pivot aggressively into utilizing electrical and autonomous autos as the premise for Software program-as-a-Service, utilizing subscription as a way to say, ‘OK, I’ll pay X quantity monthly to have this service.’”
In September, PYMNTS reported that GM is attempting to remodel the methods individuals use smartphones, with next-generation autos now slated to return with over-the-air upgrades, personalization choices and app alternatives.
Learn extra: GM Strikes to Make Linked Automobiles Carry out Like Smartphones
The automaker stated its intent is to “develop income past car gross sales and earn buyer loyalty for a lifetime.”
The brand new upgrades to pick next-gen autos within the GM roster will start in 2023. And a few upgrades will have the ability to be saved to authenticated accounts and thus transferred between equally outfitted GM autos.