Sept. 24, 2022—The ADAPT: Automotive Technology Summit kicked off this morning in the Dallas-Fort Worth area of Texas with a keynote address from Mike Buzzard, partner at Schwartz Advisors.
During his speech, Buzzard discussed many intersecting areas of the automotive aftermarket and the status of the industry as we know it today. He also outlined the industry's ability to change as necessary.
"We are change experts," Buzzard said, addressing the ADAPT Summit audience.
Buzzard broke down his keynote into several sections, including:
- How vehicle ownership changes will impact your business
- The impact of 5G connectivity
- The emerging AV NEV vehicle segment
Buzzard also noted that the market won't change overnight, but it's important to have conversations about the future of the industry now. He relayed that a willingness to adapt and change in this industry has the power to result in a positive impact on customers.
He expressed that some areas of the industry may feel the impact of electric vehicle prominence and technological changes in different ways. For example, while electric vehicles don't need oil changes or brake service in the traditional way, they also open the door for greater wear on tires that would need attention from the aftermarket.
"Pay attention to these trends that are happening," Buzzard said.
Buzzard also relayed the message to "Act Now, Take Advantage of What's To Come." The main takeaways he directed at the audience included understanding BEV adoption rates in their local areas, strengthening ADAS and diagnostics knowledge and training, understanding the BEV charger players in their market and staying informed on Right to Repair initiatives, to name a few.