Around 30-40% of profits from the automotive aftermarket could be redistributed in the next decade as electric and connected vehicles as well as other e-commerce services become more widespread.
Sales of EVs and other alternatively powered vehicles grew by more than a fifth in 2018, according to latest figures from the Society of Motor Manufacturers and Traders (SMMT).
Whilst car drivers are committed to fixing their cars to ensure they are in the best condition for the road, dealers need to up their game to deliver higher levels of customer care and boost aftersales business.
With literally hundreds of franchise car dealerships in the UK only, it is difficult for dealers to differentiate themselves from one another. This also means that differentiation is key to stand out, especially with the changing definitions of loyalty. I’ve mentioned this stat before but it’s recent and it well worth considering- AutoLoop carried out a study called “Life After Loyalty – Learning to Embrace Customer Engagement” and found that 60% of millennial customers said they were loyal to a brand, even though they shop elsewhere. This says a lot to dealerships about their retention and means that there is a need to differentiate that is stronger than ever.
Are you up to speed?
The aftersales industry is worth £99 billion* in the UK so it makes sense to invest the time to get your aftersales approach on point. But are you up to speed with the how the market is changing?
We now live in a fast-paced world where technology is forever transforming our daily lives. Within the automotive sector I feel we have embraced technology and used it to our advantage in creating new car designs and models that not only look and perform better but also take into consideration the environment.