What to expect for the future of auto sales
Over the past two years, the auto industry has been through a lot of turbulence. From the start of the pandemic, when dealerships were forced to close, to a huge rebound in car purchases last year. Coupled with the supply chain shortage and its effect on auto manufacturing, auto retailers are now able to raise prices to reflect the supply shortage and strong demand. It was a surprising turn of events in a very short time for an industry that could have expected to crash in early 2020.
But perhaps the most shocking part has been the evolution and speed at which retailers, dealerships and automakers have turned to digital alternatives in order to serve their customers. As an industry that has traditionally relied on in-person transactions, automakers were forced to go digital almost immediately. With the exception of a handful of forward-thinking auto companies whose business already revolved around buying cars online, this was a huge change of pace.
The good news is that this development has created a better experience for customers, many of whom prefer to shop and transact online. The other bright spot is that car manufacturers now have a huge opportunity to win business by providing more online deals to their customers. Here are some of the ways automakers can digitize their business to better serve their customers and stay ahead of the future of auto sales.