Over the last two years, the auto industry has experienced a great deal of turbulence. From the start of the pandemic when dealerships were forced to shut down, to a huge bounce back in car purchases in the last year. Coupled with the supply chain shortage and its effect on car manufacturing, auto retailers are now able to raise prices to reflect the short supply and high demand. This has been a surprising turn of events in a very short time period for an industry that may have expected to tank at the onset of 2020.
But perhaps the most shocking part was the evolution and speed at which auto retailers, dealerships and manufacturers pivoted to digital alternatives in order to serve their customers. As an industry that traditionally relied on in-person transactions, auto companies were forced to digitize almost immediately. Save for just a handful of forward-thinking car companies whose business already revolved around online car buying, this was a huge change of pace.
The good news is that this evolution has created a better experience for customers, many of whom prefer making purchases and completing transactions online. The other positive is that auto companies now have a huge opportunity to gain business by providing more online offerings to their customers. Here are some of the ways car companies can digitize their business to better serve their customers and stay ahead of the future of auto sales.