The 10 Most Innovative Companies in 2019

widely used for intra-city connectivity is also equipped
with larger trunk spaces which could have been avoided
helping in reduction of overall weight and size.
Dedicated category of vehicles for dedicated purposes
employing unique shapes seems a distant dream for now
but certainly not impossible.
5. Spread the word!
Customers tend to have a problem in paying extra cash
unless they know the long-term benefits and payback
time of these accessories. A study shows that a EURO VI
norm car which costs about $1000 more than its EURO
V counterparts retrieves the investment within 2-3 years
for enhanced fuel efficiency.
Protecting our mother Earth from harmful effects of
pollution is a responsibility of every single individual to
assure a healthier and greener environment to our future
generations. Despite of initial investments which these
amendments demand, they are essential for the very
existence of this planet. An intensive marketing strategy
about making people aware of the benefits received at
the core can instil an appreciation of value over cost.
This can make the job easier for manufacturers.
6. Credit System: A tool for rectification
Credit system is a depository system where if an
automaker exceeds standards in early years, it can bank
credits to use in future years with stringer standards. An
interesting statistics revealed that last year, many
automobile giants like Mercedes Benz, Honda could not
mitigate the emissions to the level drafted by regulatory
agencies. However, thanks to their previous years' credit
points, they could manage to surpass the benchmark.
7. Lower profits with higher number of customers
A prime hurdle while employing these technical
modifications is that their cost is undoubtedly reflected in
increased vehicle prices. This can discourage people
from purchasing new automobiles resulting overall
slowdown of the industry. After all, people pay vehicle
producers for horsepower and not for environmental
protection.
That being said, we should also face the reality check
where bearing the whole cost isn't possible for any
organisation. So, passing it on to the customers is the
only way manufacturers have. But a chunk of those costs
can be swallowed by lowering the profit margins. This
strategy can make businesses survive without losing their
customers.
Undoubtedly, emission regulations are the need of the
hour with millions of vehicles rolling out in the market
worsening the pollution issue globally. Conforming to
them is of prime importance when considering the noble
virtues of the efforts making this planet a better place to
live. But succeeding and surviving in this transiently
modifying world of connectivity, automobile industry
has to adopt some changes and strategies. An industry
with a history of marvellous inventions and a potential to
shape the future will surely be on the driving seat while
experiencing this sustainable awakening.
Some experts even call this credit score mechanism a
daunting loophole which is compromising the serious
efforts of environmental protection. However, while
tightening the grip on vehicle pollutants, stricter
emission standards like EURO VI, CARB and BS VI had
to provide a breathing space for organisations.
Entrepreneurs can exploit this situation to some extent in
case they fall marginally short of meeting the norms.
April 2019|
19