There have been significant changes to the Motor Trade over the last couple of decades. For starters, a lot of its business has gone online, as many companies have adapted to the consumers’ need to be able to access companies in an alternative way.
What changes have there been to cars?
Many electronic features been fitted to cars, compared to many years ago – which have meant that mechanics have had to be trained in a whole different way. These technological advances have been great for manufacturers – and often a big selling point for consumers – but they have also meant that it has opened up motor traders to a range of new questions from consumers, as well as problems too.
Nifty inventions, like airbag warning lights and engine management units have been great ideas and often useful, but they have also meant that the cost of repairing them can be considerable to the customer and a recurring nightmare for motor traders
What is the difference between dealerships now and then?
Thirty years ago, people would have gone into a dealership and test drove a car, often on the recommendation of their dealer or their friends and family, whereas these days customers often do their research online first and have a lot of information before they go into the dealership. Thanks to the internet, they have a huge range of information at their fingertips, and they often use it to not only research purchases, but also what they think their problem could be before they take their car to be repaired.
What is the Motor Trade expected to be like in the future?
In the future, it’s expected many car manufacturers will have showroom stores. These are going to develop to include a feature where they can build their own dream car on a screen. The future is expected to be more customer-focused, with the dealers are selling nowadays being completely different to thirty years ago. For example, when selling finance these days, Motor Traders generally find that consumers tend to be much more informed. So technology and a consumer-focused approach are being developed even more to deliver a new business model and a refined level of service for customers.
How have jobs changed within the Motor Trade?
Swifter career progression has been key over the last decade in particular – it has been the leading reason for job changes, with more motor traders switching roles to gain an extra rung on the career ladder; prioritising it above other factors such as salary and location. They are likely to consider it development of their craft and likely to open up further opportunities as they get to the top of the tree.
This is believed to be due to the recession that people have shifted their way of thinking – and is likely to be because they believe that the more they are qualified to do, the safer they are likely to be in another time of drastic change – or more employeeable.
How can we stay protected ahead of more changes over the next 30 years?
Having a knowledgeable Motor Trade Insurance broker who has your back can be a huge contribution to sustaining your success within the industry. At Unicom, we stay ahead of industry news so we know what’s happening and so we can advise accordingly on the risk factors for your company. Just give us a call today, email us or contact us on Facebook or Twitter, and we can speak to you and assess how your business can stay protected in the changing landscape of motor trading.
June 25, 2014