The car dealership of the future has always been a topic of intense discussion and disagreement among industry leaders. The biggest point of contention seems to be whether dealerships will even be relevant in a few years from now.However, a study commissioned by the NADA shows a future not far from what we see today. Glenn Mercer, a researcher, conducted a three-month study with two surveys, consumer research, and over 50 interviews. His conclusion is that consumer actions will change, but the operations of a car dealership will probably remain much the same.
The Internet and Technology Are Shaping the Future of the Industry
The rise of the internet has changed things for the automobile industry. Consumers are more educated about the car buying process. They, also, have a lot of access to information, options and reviews about the cars they are interested in.
New technology, such as virtual reality, has become more commonplace. Now consumers can take 3-D tours of the interior/exterior of a car in the comfort of their home and see it’s service and accident history. What Mercer learned was while 98% of consumers want to research their cars on the internet and get as much information about them as possible, they still prefer to go and see the vehicle and take it for a test drive. That couldn’t be more true when talking about pre-owned cars.
With competition growing, margins shrinking and more people shopping on the internet and doing research before, it has become much more critical to have your cars ready for sale faster than ever before. It’s so important to capitalize on every opportunity for a sale.
Back to the Future
Dealers that refuse to adapt or ignore the, ever evolving, automotive industry could find out, too late, that they’ve been pass by. However, being open to change and embracing the tools and technology of the future will help to keep your profits growing strong for years to come.
One big way dealerships can increase profit is to manage their used car stock more efficiently. For example, by using a superior car reconditioning process monitored by a complete tracking system, a car dealership can turn reconditioned cars quickly and efficiently, allowing them to get ready for sale much faster.
Green Cloud’s ReconTRAC is a cloud-based system that allows a dealership to track each car as it goes through reconditioning. If you would like to see more about how we can help your reconditioning process, contact us for an informative consultation.
