The opportunities for IoT in the automotive sector are:

simply enormous

The Transport sector is undergoing it's largest change in over 5 decades due to the imergence of afforable battery technology and new funding models for development. The shift in manufacturing power from the USA to Asia has also seen quality as a leading value for Asian made vehicles and has disrupted the traditional ways of going to market.

Technologys like LoraWAN and emerging ubiquitous IoT network like The Things Network that use it, make it practical to avoid the encumbant Telcos and leverage off open source IoT Technology stacks.

One of the biggest challenges in the transport sector has been the cost of communications - providing telemetry "back to base". With the proliferation of smart phones, this problem is largely solved by the humble android smartphone - already the IoT device with the largest footprint today.