In today’s update, we’re learning about Affinitiv’s Auto Industry 2022 update regarding Auto Dealership Challenges.
As we all understand the 2022 year has been tough on dealerships for a number of reasons. There are 5 Challenges that they outline in their article including:
- Inventory Shortages Continue: supply chain and labor shortages have created a backup of need in the industry and are still felt even now. Preorders are also on the rise causing more people to skip important ‘sales’ activities inside the dealership, so there is less connection with the buyers.
- Online Demand Continues: consumers are looking for better digital experiences with dealerships as online demand continues.
- EV is still surging. This is a trend we don’t see changing in the near future. EVs are here to stay. 50% of vehicles will be electric by 2030.
- More competition amongst dealers with fewer customers to tend to.
- Recruiting employees and retaining them continue to be an issue. Finding and retaining quality employees is still an issue that dealerships are dealing with. Millennials in particular tend to stay at jobs for only short periods of time, which means turnover continues to be a problem.
Learn more by reading the full update: https://www.affinitiv.com/2022/07/12/auto-industry-2022-q2-review-5-auto-dealership-challenges/.