It was a bold move.
Two years ago, Volvo announced that all of its new models would have hybrid or fully electric engines starting in 2019, with the hopes of fully electric cars accounting for half its global sales by 2025.
Consumers want more fuel-efficient vehicles. Volvo has grabbed onto that trend and is surging into relevance with a business strategy that former CEO Pehr Gyllenhammar describes as “building for the future.”
It’s not just a bold business strategy. It’s smart automotive public relations, too. Here’s why.
It’s a Differentiator
Ditching gasoline-only engines is setting Volvo apart from the rest of the crowded automotive industry. So far, they are the first mainstream auto manufacturer to make this move. Good PR is about finding differences and making them benefits. What sets your brand apart from all the other brands? Why should people look to you for answers?
It Creates an Area of Expertise
Will this move be enough for Volvo to supplant Tesla as the definitive expert on electric vehicles? Only time will tell, but it’s a step in the right direction. This is known as thought leadership, and it comes when your brand and the people behind your brand are recognized as respected visionaries in your chosen field. Establishing thought leadership builds consumer trust, which in turn builds sales.
It Aligns with Young Consumers
According to one study, half of all consumers want electric vehicles. But 63% of millennials consider EV’s compared to just 38% of baby boomers. In this way, Volvo is indeed building the future, meaning their future consumers. By aligning with the ideals and priorities of rising generations, they are ensuring that those consumers are more likely to trust their brand.
Sweeping moves like this aren’t undertaken lightly. They need to be backed by rock-solid public relations strategies, too. The automotive public relations experts at Ripley PR can help you craft those strategies, lending them the air of authenticity that buyers crave. To find out more, call (865) 977-1973 or contact Ripley PR online.