The Future of Car Dealerships in Today’s Digital Age
There is no doubt that the current digital age we live in is dramatically impacting all industries. The auto dealership industry is certainly no exception to this trend. With this age, an increase in automation and evolving business models has also come along. As the industry leader in car dealership marketing, our team here at AutoAwards is excited to tell you about what the future holds for the car dealership industry in today’s digital age.
The Digital Business Model Has the Potential to Boost Dealership Revenues
Today’s digital age coincides with market factors such as connectivity services, evolving business models, shared mobility, and a move toward feature upgrades. These factors are expected to boost automotive revenue by up to 30 percent in the coming years.
Vehicle Unit Sales Will Continue to Grow
Industry experts expect that vehicle unit sales will continue to increase in the foreseeable future. It is important to note that they also expect this growth to slow to around two percent per year due to other factors in the market.
The trend toward shared mobility is a factor that is influencing this. It is expected that as many as one in every ten cars sold in the coming decade could be a shared one. It is also important to note that city type is rapidly replacing region/country as the primary segmentation division in the industry.
Fully Autonomous Auto Sales Could Make Up a Large Percentage of Total Sales in the Near Future
As both regulatory and technological issues get resolved in the coming years, it is expected that fully autonomous cars could end up constituting as much as 15 percent of new sales. It is also worth noting that electrified vehicle sales will continue to grow, but the rate will be variable at the local level.
New Entrants to the Dealership Business Will Initially Focus on Specific Segments of the Market
As markets diverge, new players will have many opportunities to enter the auto dealership industry. Many of these are expected to begin with specific economic segments before expanding to other ones.
Speak to Our Experts About Launching Your Dealership’s Loyalty Marketing Program
Today is the perfect time to speak with our experts here at AutoAwards about the topic of automotive marketing for car dealerships. Reach out to our team today for your consultation for the launch of your loyalty marketing program that includes loyalty rewards. Contact our team at (302) 696-6000 for your consultation. We are looking forward to taking your call!
Since our founding in 1991, AutoAwards has been widely recognized as the industry-leader in automotive and marine loyalty marketing, earning longstanding relationships with many of the industry’s most successful dealer groups and OEMs. AutoAwards understands the #1 predictive factor for dealer growth and profitability. Customer loyalty is the most successful way to build revenue. AutoAwards has always recognized the need for top notch, highly creative, effective loyalty strategies in large and small businesses alike. Contact us online to talk about dealer loyalty or call 302-696-6000.