Digitalization in the automotive industry has evolved at a rapid pace. First of all due to COVID-19 obviously, but this trend keeps on going. People find it much easier to do research online and talk to an expert from the comfort of their homes.
According to Capgemini there is an increasing demand for an upgraded, convenient online-offline sales journey that matches buying expectations and service standards in other industries. The traditional three tiered sales model, however, does not fully accommodate such consumer demands. Let’s take a look at the 5 most popular trends that will accelerate the future in this dynamic industry and will give you a kick start into 2022!
1. Massive boost in e-Commerce sales
There has been a huge shift in the automotive industry which resulted in a massive boost in e-Commerce sales. In fact, 32% of US car buyers were open to buying online pre-covid, compared to 61% today, showing an undeniable shift in the way we buy. Because of this, there has been a decline in physical sales in car dealerships. Before the pandemic, car dealerships were the biggest source of sales revenue for car manufacturers. Nowadays, these services should be shifted to online sources to keep up with competitors.
In general, the need for the physical presence of brand experts has decreased drastically – which is why it’s so important for car brands to have an amazing customer experience on their website. Customer service goes hand in hand with this, and this is where live streaming solutions come in. These solutions are further reducing the market for conventional dealerships but show no signs of slowing down anytime soon.
With Whisbi, car dealerships can instantly connect your online leads with your dealerships & sell more. It offers everything you need to digitise your sales journey and bring the dealership experience online. Some of the benefits are:
- Connect online leads to a dealership agent: send pre-qualified leads from your web to a dealership agent in the moment when they are considering a purchase and need expert help or advice.
- Product demonstration using live video: go beyond images and pre recorded videos and show the potential customer a live vehicle demonstration in real time, to answer their specific questions.
- Car configuration through web sharing: configure the car together with the customer and explain the advantages of choosing one option over the other, creating a sense of trust and transparency.
- Real-time Lead Qualification:
– Test drive booked
– Car & offer configured
– Financial pre-qualification
– Trade-in agreed
2. Electric vehicles are on the rise
Companies like Tesla have proven that electric vehicles are not only viable, but might even replace traditional cars in the coming decades. Moreover, a general awareness regarding environmental issues has also impacted the sales trends in the automotive sector. Which is why auto manufacturers continue to integrate more digital technologies into their vehicles. It’s obvious that cars produced in 2022 and further down the line will be fully equipped with the best digital technology which also includes creating vehicles that are electric or hybrid. There’s fierce competition to develop software and digital and electronic operating systems to power and control the new, innovative zero-emission electric vehicles.
3. Self-driving cars
Sustainability is also playing an important role in the future of self-driving cars, with the global autonomous market expected to be worth $60 billion in 2030. Evidently, these autonomous cars are about to become a reality in the coming years. It is predicted that full automation will save hundreds of thousands of lives a year. A report by the U.S Department of Transportation shows that 94% of all fatal crashes result from human error, and autonomous vehicles have the potential to reduce the rate of roadway fatalities. Besides safety on the road, self-driving vehicles will reduce greenhouse gas emissions, reduce transportation costs and travel time, lower fuel consumption and increase lane capacity.
4. Connectivity in cars
Communication and connectivity within cars is definitely part of the future of the automotive industry. Why? Because these vehicles provide a more safe, comfortable and convenient way of multimedia by using on demand features. Share internet data and access with devices inside and outside the car. Think about accessing dedicated communication systems, 5G and LTE enables vehicles to communicate with each other – but it’s also possible to receive warnings about car health issues and immediately intervene to prevent breakdowns. Drives can receive updates and alerts regarding weather, congestion and accidents.
Over a billion customer requests were processed by 2015, and connected car technology will explode on the scene in diverse ways in 2022 using predictive intelligence and maintenance technology. In short: connectivity offers a number of benefits such as remote access to various software features, advanced navigation systems and access to a broad range of entertainment and infotainment services – which is where the future is headed.
5. Shared mobility
According to McKinsey, shared mobility has deep roots. Stretching back to 1940 in Switzerland, the idea has expanded over time to include shared micromobility offerings, such as bicycles in 1960. The modern manifestation began about a decade ago when the first major ride-hailing player appeared, and the field has grown significantly. This business model allows two or more people to use the exact vehicle with short-term access. It’s mobility-as-a-service like Uber or using a personal rental. This demand-driven vehicle-sharing arrangement has become a lot more popular in recent years. New companies offering shared mobility options are popping up every day, creating a creative, affordable, convenient alternative to the high costs and many responsibilities associated with vehicle ownership. Shared mobility is expected to grow dramatically in 2022.
Are you interested in knowing more about implementing Whisbi’s solution for the automotive industry? Get in touch with our brand experts and start today!