Why Auto Dealers Are Embracing the Smartphone

One trend you should be aware of as an investor is that of the "connected car." Your vehicle can connect with the outside world through a dedicated modem, such as General Motors' (NYSE: GM  ) 17-year-old OnStar service, or -- increasingly these days -- through your smartphone.

At the recent Connected Car Conference in New York City, Roger Lanctot of Strategy Analytics spoke about the role of smartphones and modems in the vehicle. Besides entertainment, they can help sell cars, route motorists, and facilitate commerce through various payment options for tolls, parking, etc. And, done properly, a connected car can save lives and make driving safer.

Our roving reporter Rex Moore attended the conference, and was able to speak to Roger about the role of the smartphone in the car. In this video, Roger explains that GM's OnStar, and other subscription-based models, are on their way out.

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