Introducing the Automotive Industry’s First Metric based on Experiences Per Mile: The Automotive EPM Index
The automotive industry has made significant strides in the movement toward offering enhanced Experiences Per Mile (EPM) over the past several years. While mechanical performance and exterior looks were key considerations in evaluating a car in the past, buyers now have found a new way to measure the value of their vehicles: assessing the experiences delivered by the car.
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A new report was released by the EPM Advisory Council, that explores the value of creating a new experiencebased metric for the automotive industry. In contrast to the currently accepted methods of measurement which focus on satisfaction and quality of features and functions inside the vehicle, the report aimed to create an alternative and actionable metric to measure a vehicle based on its ability to provide the customer with more fulfilling Experiences Per Mile.
The consumer experience for the Electric Vehicle varies substantially from one with gas powered vehicles. EV owners may suffer from range anxiety, be environmentally concerned, looking for better experiences at charging stations and/or expecting the transition to electric to be seamless. Moreso, we have found that these experiences vary by trip type, vehicle type and more.
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The first key finding is that automotive consumers have many goals as they get into their vehicles, and the prioritization of those goals varies by trip type. They’re entering the car-buying experience with various types of journeys in mind – from dropping the kids off at soccer practice to taking a business meeting on the road.
This key metric could assist customers in making vehicle purchasing decisions by allowing them to compare individual vehicles based on how well they may help meet their various trip needs. Just how would the EPM Index serve customers in the real world? Imagine shopping for a car, either online or at the dealership, and asking to review vehicles with the highest EPM Index rating for “Excursions,” which could be appealing to customers who often enjoy getting on the open road with family and friends.
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source:- https://www.experiencespermile.org/blogs/new-epm-index-for-auto-june/