Buying a car is a major financial decision which is second only to buying a house. However, there have been enormous changes to the automobile industry that have altered the way an average consumer buys their car. Unlike other industries, the automobile industry is governed by very lengthy production cycles. A new concept vehicle that looks perfect for the market can become outdated by the time it enters production. The market is everchanging and it is difficult for automakers to make sudden changes to their products – or for the record roll back production. But this pace of change can be sources of opportunity for brands that can bring innovative products to the market. The automobile market is going through changes and here are 5 ways it is changing how we shop for cars:
- Digitization: According to a study by Forbes, digitizing the car buying process offers many advantages. It helps to personalize the consumer’s experience and customize her needs. By directly connecting the customer with the supply chain, costs are cut down and the customer is better engaged. Also, the data collected during the process helps OEMs serve customers better in the future. With digitization, there is more transparency in the car buying process. Within a few taps on the screen, a consumer can compare quotes from several dealerships, see detailed specifications of a car and compare it to rivals in the segment. Car buyers prefer online websites like CARHP which offer in-depth details, ratings, and reviews of cars along with inventory status of local dealerships.
- Buying Used cars: A report by ABC news stated that, buying used cars have become a more popular trend than buying new cars. Ultimately, it boils down to more bang for the buck – something which is absolutely loved by the consumers. The used car market is more transparent, now. The dealerships offer finance options for used cars at reasonable interest rates. There are websites that help consumers to evaluate the value of their vehicle and help them to sell the cars to prospective buyers right from the comfort of their homes.
- The manual transmission is going out: Buyers prefer automatic cars more than a car with stick shift manual transmission. Passing driving test with a car equipped with manual transmission is considered a coming off age ritual but more people are leaning towards automatic cars because they are easy to dive. And with so much Research and Development in the field, automatic transmissions have become cheaper, reliable and smooth to operate.
- The changing face of customers: As the millennials come of age, they are going to be the biggest buyers and people with the most spending power. Their generation is tech-savvy and they want the convenience that comes through digitization. Automobile websites like CARHP focus on providing a one-stop car shopping experience to millennials.
- A buying experience that starts before entering the showroom: The number of buyers who find their vehicle through online websites has been on a rise. Social media and technology have empowered consumers. Now, it is easy for consumers to read and watch reviews while comparing their prospective choice with rivals in the segment. When it comes to buying cars, today’s consumer makes more informed decisions.
CARHP.COM is an automobile startup that is looking to simplify car buying experience in the US. The website helps the users to choose a car that suits their needs better. CARHP uses car reviews, buying guides and comparisons to inform the buyers about their prospective purchase. CARHP offers an extensive inventory of new and used cars near your location.
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