It seems to be a pivotal moment in the auto industry in the UK as an increasing number of motorists are opting to enter the used car market instead of buying new. In fact, new car sales plummeted by 5.7% in 2017 with diesel cars falling by almost a fifth. It is thought that this is to do with the political and economical uncertainty in the UK and is expected to continue into 2018.

The Used Car Market

Motorists are still in need of automobiles, however, which is why the used car market is flourishing - these are much smaller purchases and therefore deemed safer by the consumer. However, the behaviours and expectations of modern-day consumers are changing and the used car market will have to adjust if it is to continue to succeed.

Consumer Expectations

Modern-day consumers expect an Omnichannel experience when shopping for a car where they can carry out research and browse for cars online, speak to experts and visit dealerships where they can take the car for a test drive. Often, a modern-day motorist will know exactly the model of car that they want and how much they can expect to pay for it before they even step foot in the dealership.

Dealerships

This means that used car dealerships need to have a strong online presence if they are to succeed and attract customers. In addition to an updated website that contains detailed information on the dealership, the current stock, testimonials, contact information and the ability to arrange a visit, they should also be active across social media channels and use internet marketing to increase visibility online (SEO, PPC etc). This online presence is important, but the potential customer will still need to come into the dealership to view and test the car. Therefore, dealers will still play a key part in the sales process and must know how to get a sale over the line.

Additionally, dealerships will need to pay close attention to trends in the market as this is also evolving at the moment.

One of the key reasons that new car sales have fallen is the Government’s clean air plans, which included a 2040 ban on petrol and diesel vehicles. This has led to a sharp rise in the popularity of eco-friendly automobiles, so it is important for used car dealerships like Shelbourne Motors to ensure that they always have a range of eco-friendly cars available.

Toyota are pioneers in this revolution, so having these readily available and with information online could go a long way.

The used car market is currently benefitting from a lack of consumer confidence in the new car market, but times are changing in the UK and it is vital that dealerships are aware of the latest trends and growth opportunities to maximise profits.