Last year (2018) has been an explosive year for the auto industry. It started off with a lot of ambiguity, but now we have a clearer depiction where it is heading. Growth in the economy has been seen; however, new automobile auctions have gone down emphasis Aleksandr Korchmar.
Actually, the tariffs that were created to help American businesses, unluckily, have a bad impact on automobile manufacturers both globally. New car dealerships made wealth, but revenue dropped a little. Beyond that, new vehicles are struggling while old car sales are going to rise. These days, the reconditioning business has become ever more essential for both customers and dealerships.
Keeping all this in mind, here are some trends your Car dealership have to pay attention in 2019:
The electric automobile will only continue to increase in the popularity
As companies like Tesla prioritizing electric vehicles, there is no surprise if we say that electric vehicle has become more popular. In fact, you will see customary manufacturers following suit. No matter what, the electric automobiles are growing exponentially in popularity.
AI will be implemented into vehicles in the future
We are not sure that this happens in 2019 or not. However, we cannot deny that the use of AI has been steadily increasing. Whether its tablets or smartphones, there’s an AI to help says Alex Korchmar. Hence, there is nothing wrong if we mention that AI will be implemented in cars soon.
Electrical systems in the automobile will improve considerably
These days an electric system in the vehicle seems like to happen soon. In the future, 12 volt electrical systems will be replaced by 48 volt systems. This is because in today digital age we have everything like computers in our pockets, sensors in cars, etc. that need an increasingly larger amount of power.
Self-driving vehicles are becoming more common
As almost every vehicle has sensors today, so we can assume where the automobile market is heading. These days, you can find a lot of self-adjusting features in vehicles. In fact, some well-known automobile companies have started investing in self-driving vehicles.
Used cars are growing in popularity
Old vehicles market is a billion-dollar business already. Last year we have seen that it is gradually taking over vehicles auctions. This means that customers are maintaining their vehicles for much longer. Apart from this, as the tax and car price increases, old vehicle dealerships have become the preferred option for maximum people.
These are some trends shared by Alex Korchmar in hope to help the people working in the car dealership. You should pay attention to these trends in 2019 if you are running a car dealership business or thinking to start this business. All the best!