This week I read some encouraging news. A study by AutoTrader and KBB found that Gen Z – those between the ages of 13 and 20 – are looking forward to becoming car owners! Indeed, 72 percent said they would give up social media for one year if that allowed them to buy a car. They are interested in buying from a dealership as well. At least, only 26 percent wanted to buy a car online.
That’s good news for dealers, who have been barraged with studies showing younger people are losing interest in buying a car and don’t want to buy one at a dealership if they do.
Some portion of those Gen Z buyers might also hanker for a motorcycle. If they do, they can talk to a dealer I profile in this week’s issue. Steve Lamb, a Florida car dealer, is also a Harley dealer and he is enthusiastic about the benefits of owning a Harley-Davidson franchise. Indeed, he sold his Nissan franchise and used the proceeds to pay off the loan on one of his two Harley stores.
One thing that is different about his Harley dealership compared to his car dealerships, says Lamb, is the service lane. Harley owners love to bring their bikes in for service. The opposite is true for car owners.
To be sure, dealing with customer complaints in the service lane is one of the headaches of owning a new car franchise. But it is a profit center, and is one of the reasons you might consider acquiring a new car franchise, contributor Don Ray writes in this week’s issue.
Naturally, we also have our popular section on those who have decided acquiring a dealership is for them. We call it Transaction News.
Enjoy!
