It’s easy to get a bit confused these about the car buying habits of younger consumers. They aren’t that interested in buying cars. Wait, maybe they are interested, they just didn’t have the money to buy cars before. Oh, they’re buying used cars. But they will likely buy more expensive new cars as they get older and have more disposable income.
What’s an automaker to do? For one, invest in ride-sharing companies. Or on-demand ride companies. Or mobility companies. This week, we learned that Toyota has invested in Uber and Volkswagen had invested in Gett. Both automakers figure this will give them a window into the whole segment and also give them a way to introduce younger consumers to the automaker’s vehicles. Maybe they will later buy one of the cars they leased to ride share, or took an Uber ride in, goes the thinking.
Dealerships will participate in different ways in the changing car ownership paradigm. It will help to have employees who stick around for a while and learn how to sell to this new group of buyers.
This week, two of our pieces address that question. Our Women in Automotive profile of Lisa Copeland looks at her experience with creating a work culture that encourages women, Millennials, and employees in general to remain with a dealership.
Partnering with that piece is a column from Rawls Group that ran a few months back as well. Dan Schneider looks at how to merge two dealerships’ work cultures after an acquisition in a way that retains employees and prevents too much disruption.
Also this week, we have part 2 of Chip Walker’s series on lighting. Good lighting sells more cars. Learn how LED adjustable lighting may be the right lighting for your lot.
And of course we have Transaction News.