Here, J Ferron, PricewaterhouseCoopers' Automotive Industry Leader, discusses MetaCapitalism as both a growth imperative and a unique challenge for the auto industry. The essence of MetaCapitalism is collaboration. MetaCapitalism sounds theoretical until you look at a product like a new vehicle. Cars are emotional.
Cars are a big part of our disposable income.
And we expect our new cars or trucks to work right and to be right and to reflect our lifestyles. And therefore we put lots of demands on the auto industry. Our study of the Second Automotive Century says that those demands are reshaping the asset base, the communities and the degree of collaboration in the industry. Now the supply chain has changed and you've got a network that's working around the relationship to the individual. Part of that is because the automotive industry includes creating and servicing the product, financing, and leveraging customer relationships.