Automotive brands (eg Mercedes, Audi, Skoda, Opel, etc.) that want to move towards recovery will have to adapt to faster industrial cycles and shorter planning horizons. They will also need to prioritize those initiatives that are best suited to where the sector is located, such as putting in place an extension. Up to the house or further to digitize the process of buying a car. To help auto dealers prepare for the upcoming event, Google has tasked analysts with identifying five key questions to keep in mind.
1. People find new comfort in owning a car.
Against the background of the almost complete cessation of the use of everyday modes of transport, from flights to group flights, the desire of consumers for their own personal mode of transport is increasing. The personal spaces that people feel comfortable in, not just during the pandemic, include their homes and their own cars. The use of affordable cars has almost doubled since the start of the pandemic, and the use of public transport has fallen by more than half. 93% of people say they now use big cars.
2. People hope to find better deals on cars
Car buyers want to know if it’s time to buy a car, and if so, they can get a good deal. Between January-February 2020 and March-April 2020, interest in the query «it’s time to buy a car» grew more than 9 times. Sopi car buyers are increasingly turning to digital services to compare models and prices, and offers matter more than ever. Automakers are responding to demand for interest-free financing deals within 72 to 84 months, but are also aiming to help customers who need help with their payments by offering payment deferrals without penalty.
3. People want the salesperson to come to their house.
After consultation, car dealerships rated the following activities, preferably better ones, as good alternatives to the dealer:
1. Test drive at home.
2. View video.
3. Digital showroom
4. Online configurator
5. Test drive VR.
6. Video conferencing.
Brands that want potential buyers to select specific models should pay special attention to video content when reviewing interiors, taking tours of the exterior, test drives, and watching finished videos.
4. People want to buy a car online and have it delivered to their home
Automakers have moved quickly from contact transactions / live meetings / to satisfying consumer preferences and to digitizing all stages from test to purchase. Now 18% of car buyers would buy a car sooner if they could buy it without going to a dealer.
5. People turn to digital events
As circumstances warrant the postponement or cancellation of international auto shows and major conferences, some manufacturers are postponing car launches while others are moving to debut their new models entirely online.
The pandemic has changed the way we do business. And while we can’t 100% predict the future, changes in consumer behavior are likely to continue. As automakers return to metal, understanding customer expectations as well as new ways to shop will be critical to success.