Transportation and the New Normal: What are the Reasons Behind Rising Car Sales?
The coronavirus pandemic has greatly disrupted the economy. But despite the challenges, people found solutions to keep their industries afloat. In the auto dealership industry, sales personnel and dealership owners have found a way to keep their businesses going. On this blog, commercial real estate professional and car collector Gene Bernshtam explains the market’s successful shift to online selling.
There was a decline in car sales for the past few years. The rise of ride-sharing platforms and the move toward lessening one’s carbon footprint by utilizing public transport, carpooling, and using bikes have made many people put their plans of buying cars on hold. However, Gene Bernshtam says that car dealers and sales personnel are beginning to see a new trend.
While March and April were difficult months for the industry, many car dealerships used the period to set up for selling online. While the showrooms are closed, many customers started doing their research online. Gene Bernshtam says that while many were sheltering at home, they were also preparing for the new normal. A huge part of this is planning how they will get around considering the need for physical distancing and contact-less transactions.
With the desire to be convenient and safe amid the threat, many are investing in affordable cars that can help them and their loved ones move around. With the limited capacity and safety concern regarding public transportation, private-owned cars are a worthwhile purchase especially for families. As a car collector, Gene Bernshtam says that there are many good options that will fit a family’s budget.
On the other hand, car dealerships are also seeing an increase in first-time owners. Young professionals and small business owners are buying cars thinking that it is the safest option for them. Though ride-sharing options are convenient, these new car owners want to guarantee the cleanliness of their vehicle. For small business owners, especially for those in retail and food, having their own ride allows them to do the deliveries themselves, ensuring the quality of their product and the safety of their customers.
While some showrooms have reopened, many have taken to online platforms to sell different models for various budgets. Scheduling test drives, showroom visits, and other steps to ensure customers get their money’s worth can be done in observance of physical distancing. Instead of the usually crowded dealerships, buyers can start transacting with salespeople online before they take the next steps. For those who are still on the fence about buying a car, it might be good to do so now. It is an essential purchase that will ensure convenience and safety.