Part exchanges have traditionally been something of a problem area for dealers who want to offer a complete online car journey. While there are a number of methods available of handling them, there is currently no uniformly accepted solution that works well for dealer and for consumer.
SOME Car dealers don’t quite grasp the distinction between ‘a digital strategy’ and ‘a business strategy for a digital world’, according to the boss of one of the UK’s leading dealer groups. Jason Cranswick, Managing Director of Norton Way Motors, stressed that the latter of the two approaches is by far the best option if dealers are to make [...]
The impact of using video in aftersales continues to grow too. Insight from RTC, part of CitNOW Group, reveals that 68% of amber aftersales work was authorised in less than 30 minutes of customers receiving a video in 2023. Its data also shows that using video to present a vehicle health check results in 10% more red work being converted on average, while tyre sales conversion rates increase by 32% and brakes and suspension work increases by 18%.
Research shows that 74% expect to use some sort of online process to buy their next car – either buying online and collecting the car in person from a dealership (45%) or buying online with home delivery (29%). Only a quarter said they would prefer to buy their next car vehicle in person from the retailer.
Mad Devs supports over 600 dealers across the UK and has international partners that resell its technology in Australia. Its portals provide over 260,000 customers with a better car ownership experience and now hold over 5,000,000 documents, ensuring greater transparency and improved adherence to compliance requirements.
The arrival of GVAs could provide dealers with better visibility over which of their online ads were working, as well as opening the door to new technology. There are several implications to this but perhaps the most significant is that the dealer needs to ensure that the page of their web site on which the customer lands provides them with all the information they need about the vehicle - and crucially a clear route to handle the entire purchasing process in whatever manner they see fit.
Creating a comprehensive online journey including elements such as integrated motor finance, part exchange and delivery is something that is easily achievable and cost-effective for all car, van and motorcycle dealers.
New process will empower consumers and put them in control of their finance choices, existing safeguards will be strengthened to ensure they also remain protected. These mandatory breaks are designed to give consumers time to stop and think about their decision before finalising their loan agreement, preventing them from taking on an unsustainable financial commitment.
An increasing number of consumers start their search for their next car online. However, despite several well-publicised online used car businesses appearing in the last three years, only a small fraction of all cars sold are purchased entirely online.
Vehicle Vision, provider of video systems for the automotive sector, reported that almost 90% of customers across dealership networks are choosing to use its digital aftersales platform when given the opportunity to do so.
