The automotive industrial value chain is a highly integrated network that connects multiple stakeholders, allowing seamless coordination from product design to final delivery to users. However, the industry is often constrained by challenges such as data silos and trust deficits, which impede effective collaboration in core business processes, thus affecting operational efficiency and overall profitability. To address these issues, blockchain emerges as a promising solution to facilitate value chain collaboration in the automotive industry. As a decentralized infrastructure and computing paradigm built on a peer-to-peer (P2P) network, blockchain offers a trustworthy mechanism for value transfer. In this paper, we summarize the key functionalities of blockchain and present a conceptual framework for a blockchain-enabled automotive industrial value chain. The feasibility of blockchain adoption is theoretically analyzed through an industry application. In addition, we identify potential challenges and propose countermeasures, providing insight into the practical implementation of blockchain in the automotive industry.