“Three Major Trends Transforming the Motor Trade: An Opportunity for Car Dealers”

The motor trade industry is currently experiencing unprecedented change, with three major trends that were once touted to be in the future now becoming a reality. According to Auto Trader’s chief operating officer, Catherine Faiers, these trends represent an opportunity for car dealers to adapt and thrive in the evolving market.

The first trend highlighted by Faiers is the shift towards electric vehicles. With EVs becoming mainstream, almost one in five vehicles aged one to three years old will be electric this year. This presents a significant opportunity for car dealers to embrace and capitalize on the growing demand for electric cars.

Another major trend in the motor trade industry is the rise of omni-channel retailing. Faiers notes that the industry has moved away from a binary choice between online disruptors and traditional in-person transaction dealers, towards a more integrated approach that combines both online and offline retailing channels.

Lastly, Faiers discusses the move towards agency selling, with manufacturers exploring new models of distribution and sales. While some manufacturers may adopt a pure agency model, Faiers predicts that most will opt for a hybrid approach that combines elements of both traditional franchising and agency selling.

Overall, Faiers sees these trends as an opportunity for car dealers to build the businesses they want for the next decade. Despite the challenges and complexities of the changing market, she believes that this period of transformation presents a chance for growth and innovation in the motor trade industry.

In conclusion, the future of the motor trade industry is here, and it’s up to car dealers to embrace these trends and seize the opportunities they present. With electric vehicles, omni-channel retailing, and agency selling becoming increasingly prevalent, now is the time for dealers to adapt and thrive in this period of unprecedented change.