Over the past few years there have been some massive changes to the motor trade industry, which means that car dealerships have had to adapt in order to still appeal to customers. Those working in sales, servicing and finance have all had to adapt to the introduction of new technologies, the economic climate and the needs of consumers. Here are some of the biggest changes that car dealers have faced recently:
Stock
We have all heard about the increase in petrol prices as well as how damaging fuel emissions are for the environment, which is why more and more car manufacturers are now producing hybrid or electric cars. Even though these types of vehicles (especially electric) are not extremely popular in the market at the moment, the fact that fossil fuels are running out means that one day they may be the only option. Car dealerships will expect to see more of these types of their vehicles on their forecourts in the next ten years, so you should start brushing up on your knowledge now if you want to be ahead of the game!
Technology
Bookkeeping and log-books are soon to be a thing of the past, as most companies now rely on technology in order to run their businesses. For example, iVendi have been developing new motor trader software that is compatible with portable devices such as tablets and smartphones so that salesmen can be more mobile. iVendi director, Richard Tavernor said: “In most dealerships, the standard sales procedure is that the test drive is followed by the customer sitting at one side of a desk and the sales person on the other to complete the deal, often for around an hour.”
“The truth is that, in 2013, there is no need for the process to be so static. Much can be achieved using a tablet while you are sitting in the car with the customer, or you could perhaps take them through an options ‘wall’ or screen installed in the dealership. There are all kinds of fairly cost-effective possibilities”
After-sales
Longevity is one of the key things customers look for when buying a car, so many dealers now offer after-sales deals that include warranties and free servicing for a certain period of time. Most dealers now also offer finance packages so that customers are able to pay for their car in monthly installments, however this can sometimes be risky. In order to deal with this, motor trade insurance policies have also adapted over the years in order to protect motor traders and car dealerships, meaning that even though the risk may have been increased protection has also become more intricate.
