The many roads to the ultimate buyer experience
The impact of e-commerce on auto retailing is hard to miss. With detailed information about models, options, and prices available on online platforms and smartphone apps, car shoppers are in the proverbial driver’s seat. However, they still want a better dealer experience. Meanwhile, dealers struggle with falling margins (thanks to internet price transparency), and reliable sources of profits, such as financing and used-car sales, are under attack from digital disruptors.
The challenge to remake automotive retailing to deliver a better customer experience—while enabling dealers to make money, too—is massively complex. There are all kinds of car buyers who follow countless online/offline customer journeys—so better data and online tools will not be sufficient. It will take innovation, new dealer strategies and collaboration with automakers. Read to learn more about the key takeaways and trends determined by this research.
Americans have gotten comfortable working from home and buying online. That means they’re driving less. Businesses need to take notice.
Sales of EVs are unlikely to boom for years. Automakers and suppliers may need to rethink plans to launch hundreds of new models.
Adoption of advanced safety technologies has kept up with the rise of distracted driving. So collisions have also risen. But that's about to change.
Online shopping, ride-sharing services, collision avoidance technology, and self-driving cars will lead to a sharp drop in dealers' sale and profits.
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