CAR BUYERS – PATIENCE IS THEIR VIRTUE

Car buyers will wait for what they want.

January saw test drives leap by 127% against the same month last year. Enquiries also climbed with a 30% increase. According to iTrackLEADS the demand is there, and car buyers are ‘willing to wait for what they want. Sales grew by 12% in the first month of 2022, according to the data, revealed by the Society of Motor Manufacturers and Traders (SMMT).

There are still new vehicle supply shortages which are in turn affecting handovers, however the customer attitude is leaning towards, if you must wait, you might as well wait for what you want. Why compromise?!

Recent studies examined new and used vehicle data from over 300 dealers across the UK. It tracked the sales process from initial enquiry to test drives, sales, and vehicle handovers. Its data shows an industry average of 50 mins to respond to an enquiry, while the quickest operator has an average response of 1 minute and 9 seconds. The fastest response times saw 10% of enquiries converted to test drives and 84% of test drives turning into sales.

It is now more important than ever that dealers respond to enquiries quickly and professionally.

This is the time to look at the detail. What does your customer journey look like? Would you pat yourself on the back or does it need some work? Have you mapped out your communication journey lately, are there any gaps? How well are your leads converting? When was the last time you trained your workforce? Do you have a training strategy?

Despite the challenges dealers face with new vehicle supply and shortage of used stock there are several things manufacturers and dealers can act on and change that are within their control. Customers understand the delay, but the automotive industry has the power to help the customer experience shine during the waiting process.