More and more these days, researchers are uncovering that up and coming drivers are just not as concerned about the car they are driving as past generations. It’s hard to say why the shift in focus has occurred but at any rate, it has posed a new set of dilemmas for the auto industry and they must now concentrate some of their efforts towards finding solutions for the profit they will lose from this new trend.
Many experts believe that the way to overcome this problem is by making sure that Generation Y buyers know they can trust the car-buying experience from start to finish. In a recent news release from autonews.com, George Halloran, an auto finance program director for the Americas at BenchMark Consulting International in Jacksonville, FL stated, “If something is going to appeal to Gen Y, it’s got to be trustworthy, nonintrusive with no hidden agenda and no pressure – and it’s got to be available at 2 a.m..”
Also, there are all kinds of loan options out there and available at the push of a button and young borrowers are very savvy in how to find these financing deals and aren’t afraid to use them. Dealers earn a lot of their profits off of financing and it will be crucial that they research these online deals and work to stay very competitive with them so that people will continue to finance their cars from the dealer. Many dealers, like your local Ackerman Toyota cars St. Louis dealer is already looking for ways to improve business for young buyers. They are looking forward to the challenges of the future and expect to remain at the top of the game in the auto industry.