I attended the amazing The Goodwood Group Festival of Speed last Thursday. The weather was fantastic, and I always enjoy the drive down there. It's one of the highlights of the year for me (along with Goodwood Revival). This event is a showcase of everything on four and two wheels, providing #automotive brands with the opportunity to demonstrate exactly what they're capable of.
This year, the Chinese brands took centre stage, with huge stands for MG Motor Europe celebrating 100 years, the premiere of BYD EUROPE at Goodwood, as well as OMODA UK JAECOO UK and both Group Lotus and Polestar, owned by GEELY, making a strong impression. There were also new brands, not yet selling cars in the UK, like Hongqi Nederland.
I also enjoyed seeing INEOS Automotive, Morgan Motor Company, Genesis Motor Europe and Singer Vehicle Design's brilliant displays. It was a great day out, seeing people enjoy the products and having a fantastic time.
However, since my return, I've heard a number of automotive industry experts suggesting that Goodwood may be losing its relevance. They argue that car buyers don't attend Goodwood; it's just for petrolheads and enthusiasts who don't actually purchase cars. Personally, I think this viewpoint misses a much wider point.
The emergence of a digital world over the last 25 years, and an obsession with performance marketing has sadly created a climate where absolutely everything is expected to be directly attributable to a sale. But I don't believe this should be the case.
There's still an emotional element to buying a car for most people. That's why design, colour and brand plays a significant part in a crowded marketplace. So there’s immense value in creating a positive vibe, showcasing our industry, showing off and celebrating everything about it. Both for customers, employees and their families young and old. The impact of this isn’t always immediately measurable, but the ripples are far reaching and it can influence decision-making and brand positivity in the long term.
A great example of this alternative thinking is BYD and its premium-brand Yangwang. It has two products: the U8 electric supercar with over a thousand horsepower that can dance and the world's most powerful SUV the U9 that can do on-the-spot tank turns and drive on water. When asked why anyone would want a car that does this, BYD's answer is simple: why not? It's fun!
This spirit of innovation, showing off and enjoyment is crucial. That encapsulates what the Festival of Speed is all about. Perhaps legacy brands should remember that not everything needs a direct sales correlation?
Ladies and gentlemen, maybe we should all have a little bit more fun. What do you think?
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