Already we are well into 2018 and there are already challenges coming into the auto industry.
We need to be aware and be ready for anything. Here are a few automotive trends to keep an eye out for.
A decrease in sales:
Going back a few years the sales for 2018 looked good to the 20 million mark. In 2017 they are coming in looking around the 17.1 million mark for vehicles which was lesser than last year. There has been theory’s that 2018 will drop even lower. The downward spiral in the automotive industries will see car dealers struggling through this phase of lowering sales.
It looks like there is no way out but there the option to adapt. Car dealers need to adapt to the changes and be flexible in the industry to make it work.
This is a well-known in the automotive industry. The disappearing taxi’s. With Uber being released and more drivers for Uber than taxis, soon there won’t be any more taxi’s.
Taxi’s are over and out they are still fighting endless lawsuits by the taxi group to put a limit on ride sharing but no matter what taxi’s challenge it appears Uber will take over.
Uber has been lowering the taxi industry but without any major concerns around the auto dealers as of yet, fingers crossed!
The coming of electric vehicles:
The vehicle industry need to be prepared for the growth of electric cars.
Although at one-point car sales were down funny enough this was the same year there was a 30percent sales increase in electric cars.This will only increase and soon enough fuel cars will be overpopulated by the electric cars.We are to see MercedesBenz offering 50 versions by the year 2022. Coming in next will be BMW who will produce a mass number of electric cars in 2020 and have 12 different types by 2025.
Customer centricity is the above
Setting in now is the age of the consumer and google tesla and amazon with the customer royalty have high records coming in each year. The customers are loving the control and convenience when the option is there.Tesla’s main appeal is the recognition of the customer centricity to allow the people to buy a car without going through the dealership. Customers were complaining so many were having bad dealership experiences. Too many people feel they are ripped off when going through a dealership. This problem is not going away and if dealers don’t act they will lose customers hence make any profit. Dealers need to work on their customer experience from the desk to the hands-on customer service.
Dealers need to adapt make changes if they want a positive impact on their business.
If they don’t learn to change then they will soon their profits decline, and it can be very hard to pick yourself back up again and get back where you were. once a customer has a bad experience and spreads the word unfortunately word travels fast.