Millennials And Technology Change The Auto Industry
Today, the rise of innovation has created significant market disruptions in many industries. The Millennial generation grew up with advanced computer and mobile capabilities, and the shopping and purchasing habits of members of this youthful generation appear likely to transform the automotive industry in significant new ways. In 2014, Millennials accounted for 27% of potential new car purchasers in the U.S..
Many companies in the United States have noticed that large numbers of Millennials differ from their parents and grandparents in their approach to shopping. Greater familiarity with the Internet and the popularity of mobile technologies, such as smart phones and tablets, have accustomed young people today to value the ability to make buying decisions on a flexible, streamlined basis revolving around their convenience. Millennials often display little tolerance for the delays and paperwork requirements which previous generations once took for granted in approaching auto sales transactions.
How does this situation impact the automotive industry today? Instead of visiting a local dealership for a test drive as the initial step in making a vehicle purchasing decision, Millennial consumers frequently perform extensive online research instead. Some even order a new vehicles without setting foot in a retail location first. They spend a staggering average of 16.7 hours engaged in online comparison shopping and arranging financing beforehand.
Responding to Market Changes
Vehicle manufacturers have responded to this critical shift in purchasing habits by investing resources in sleek, information-rich websites that display new models of specific brands with a multitude of available options and upgrades. Companies endeavor to assist clients using the Internet by providing detailed information about features and by extending comprehensive support.
Today, some new car purchasers essentially customize their vehicles through this process, remotely selecting the options and features that interest them the most. Dealerships continue to play a valuable function. They enable interested customers to conduct test drives to compare different models in person.
When you require qualified mechanical assistance with your vehicle in Raleigh, North Carolina, depend on Triangle Car Care. We’ll help you check out a vehicle to insure that everything works properly. We also perform necessary maintenance and repairs to keep you on the road. If you do order your vehicle online, we’ll provide a useful resource. Call (919) 787 – 0966 for all your automotive needs in the Raleigh, North Carolina region!