The auto industry is continuously affected by the current trends in our world. Between 2018 and 2019, the economy caused a shrink within the automotive sector, lessening the global demand.
The lockdowns caused sales to plummet but demand quickly recovered and has been strong ever since. Here are some thoughts from the experts at AutoCenter Sales for what 2024 may look like.
Reinvention Is in the Works
Many automotive businesses have lagged behind in the move to a digital world. Consumers are increasingly using digital tools to browse and purchase products and services. Automotive businesses need to ensure their products and services are visible and available online.
The move will include adding more software and creating personalized scheduling systems for the next-generation automotive business.
Filling the Shop Tech Gap
With the continuing shortage of technicians in the market, there need to be replacements in place to keep auto shops ahead of the game. To help negate this, the Auto Care Association has launched an online Academy this year offering self-paced learning for those going into the auto repair industry.
The classes are streamlined for professionals at all career stages, from veterans to new entrants, to keep companies supplied with certified technicians.
Keeping It Online
The following predictor is the movement to retail auto sales online. With a pandemic prompting further digital shopping, cars and automotive repair options are no exception.
This means a reduction of overhead on dealer showrooms in commercial real estate sectors and competitive prices for sales and repair in the market.
Social media influence will help to establish third-party bookings to give dealerships and shops a survivability chance through this process.
New Roles Will Emerge
While traditional roles in auto repair shops will remain consistent, there is a growing demand for certain skills:
● ADAS calibration techs for recalibration of advanced driving systems
● EV techs for repairing and diagnosing EV systems
● Research leads to gather, analyze, and interpret data for streamlined repair services and enhanced consumer relations
Each will play a critical role in keeping up with the demand for new advancements in the auto industry and keep repair shops and dealerships aligned with new requirements.
Subscription to Drive
With Porsche expanding operations around vehicle subscriptions or leasing, there seems to be a trend going in this direction.
Vehicle swapping might seem appealing to many, but having high rates for subscription fees could be a deterrent.
Emphasis on Improvement
With the environmental issues, older populations, and the pandemic sparking the importance of health regarding automobiles, new agendas are being researched for greener options.
Features such as the ability to analyze pollution, seats that can massage the passenger, or air purification systems expect a 25% growth in this demand between 2019 and 2025.
This will affect all aspects of the automobile field, including the buying and selling automotive business processes.
Increased Digitization & Automation
Characteristics, including automation, electrification, and digitization, are creating a new demand calling for a reformation of traditional auto repair.
Shops now need to integrate new technology to offer repair and maintenance services, particularly with electric automobiles, and this includes making sure that the shops have the right technology and qualified techs to repair the vehicles.
Here to Help With Your Automotive Business
With over 25 years in the industry, AutoCenter Sales is your number-one choice if you need to buy or sell an automotive business. Our company has become a success through dedication and unmatched business brokers who strive to meet our client’s needs.
If you are looking for auto shops or commercial properties for sale in Minnesota, call us today at 800-874-5793 or click on the link to get started.