Strategic tools like SWOT analysis and Porter's five forces are beneficial in the auto industry as they help in understanding the strengths, weaknesses, opportunities, and threats of a company. They also provide insights into the competitive forces in the industry. This can help companies to identify their unique selling propositions, understand their competitive position, and formulate strategies to gain a competitive edge.
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For example, think about the competition in the auto industry. There are so many automotive companies, from legacy giants like Toyota and VW with great assembly lines and scale to new EV upstarts popping up every day that want to compete and become the next Tesla. With a market cap of over $700B, can you blame them? But with so much competition, how do any of these startups offer something unique that other legacy brands don't can't? A strategy group analysis can help.