With the constant evolutions of technology and society, the automotive industry has experienced some drastic changes in the last few years. These fluctuations have impacted every aspect of the car business. And now, with inventory shortages wreaking havoc on normalcy, car dealers have had to find new and creative ways to thrive. MAX Digital’s Tim Scoutelas joins members of the team Ed Single and Ty Flemming to discuss these changes and take a peek into the future.
Specifically, the trio touch on inventory shortages and the effect on pricing. Dealers have to balance between charging appropriately and still offering a quality customer experience. This creates two separate selling mindsets while also taking customers out of the driver’s seat during the sales process. There will be a change in the future, and dealers need to make sure they are doing right by the consumer and not just gouging prices.
But the pandemic did more than just create a perfect storm leading to shifts in inventory and pricing. With many people no longer traveling for work, global emissions dropped a significant amount. Many manufacturers are already committed to focus on electric vehicles. So, this drop in emissions amplified a call for more EVs. Consumers are ready to change the way they drive, even if they don’t realize the downstream effects more EVs will have on the service and parts industry.
The new year is right around the corner. To prepare for the future, dealers need to control what they can. Train employees well. Merchandise right. And do the things that you can handle and ensure that you stand out. Fundamentals are huge right now and training is more important than ever before.
Watch the full video interview with Tim, Ed, and Ty: