Doing Business the Way Today’s Customers Prefer
In today’s fast-paced digital world, dealerships must adapt to meet evolving customer expectations. Discover how dealers can build stronger connections, sell more vehicles, and deliver exceptional experiences by leveraging technology, such as Kelley Blue Book® Instant Cash Offer and vAuto’s merchandising tools. Learn how these solutions can help address consumer needs and affordability challenges, ensuring a seamless hybrid customer journey that fosters lasting loyalty.
Understanding the Modern Car Buyer
Today’s car buyers are diverse, spanning multiple generations with different motivations and financial profiles. Traditional new car buyers average 50 years old, while electric vehicle (EV) buyers are younger, averaging 41. Millennials and Gen Z are significant segments, especially for EVs. Understanding these nuances helps dealers tailor strategies to meet varied preferences.
The Digital Evolution of Car Buying
Technology has transformed car buying, with 79% of buyers visiting dealership websites for research. They seek transparent pricing, interactive vehicle displays, and online financing tools. Solutions like Kelley Blue Book® Instant Cash Offer enhance the digital experience, fostering customer confidence and loyalty.
The Hybrid Customer Journey
Car buying now blends online and in-person steps, with 93% of purchases in 2023 involving both. Dealerships must offer seamless omnichannel strategies, bridging their website and showroom to provide a cohesive customer experience.
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More Inventory Trend Articles
Read about other major inventory challenges dealerships across the country are facing along with vAuto’s point of view on the state of the industry.
Dealerships are Sourcing Used Cars Differently
The truth of this statement proved especially true for dealers in the aftermath of the COVID-19 pandemic. Through much of 2020 and 2021, the chief problem dealers faced wasn’t the perennial challenge of selling cars.
Why Dealers Should Adopt Variable-Based Used Car Management
Strong retail demand and limited used vehicle supplies effectively eliminated the perennial worry of aged inventory for dealers. But depreciation returned when the average days supply of vehicles in dealer inventories hovered near 50 days, meaning some dealers had inventory they’d acquired 45 or 60 days earlier at the top of the market.
Navigate Today’s New Vehicle Affordability Challenge
Discover how to navigate vehicle affordability challenges with vAuto’s cutting-edge solutions. Leverage dynamic pricing, innovative merchandising, and real-time market insights to optimize inventory and drive sales. Unlock strategic planning tools to stay competitive and boost profitability.