The automotive sector is at a difficult crossroads and must face multiple drastic changes as a result of new trends and consumption habits in society and the market. Such is the change in the automotive sector that customers no longer go to dealerships with references from their immediate environment or the typical car magazine, but rather arrive at the dealership with a wealth of information acquired through various brand reports obtained on the internet. The customer has done their homework.
The process of buying and selling a car has become more time-consuming. Before making a decision, customers think more carefully and consider numerous factors: diesel or not, electric, can I drive it in Madrid, how do I buy it, do I pay cash, rent or lease? BRAINTRUST, in its study on the key factors in buying a car based on customer experience, notes that "the decision-making process is taking longer, with the most traditional factors, such as the characteristics of the car itself, taking precedence: quality, performance, price, or warranties, rather than the connectivity offered by dealerships, with which younger people identify." Buying a new car is a subjective and emotional decision that depends solely and exclusively on the experience of each buyer. The essential attributes for an ideal brand remain the same: good value for money, a reliable, durable product with a warranty, and good after-sales service.
There are two key moments in the purchasing decision: which brand to buy and the visit to the dealership. The visit to the dealership is fundamental in the purchase of a car; contact with the car brings a positive emotional charge and, sometimes, the attitude adopted by the salesperson. It is essential that the buyer does not feel that they are being "pushed" into a particular model, or that the salesperson does not value the information acquired about the product. BRAINTRUST explains that "the salesperson must understand and comprehend the customer's fears, as well as know how to differentiate between customers and serve them by segment: gender, age, education, social position... in other words, personalize their service and leave behind the one-size-fits-all approach." They add that "during the initial stages of the sales process, a good salesperson must know what type of customer they are dealing with and be able to personalize the sale to their needs and characteristics." The one-size-fits-all approach by the salesperson is no longer valid, and customers "run away" from this type of salesperson.
The study conducted by BRAINTRUST on consumers' motives and preferences when buying a car shows that in more and more situations, "new car buyers are considering whether it is worth buying a car or adapting to new uses such as car sharing, BlaBlaCar, etc." It also revealed that many young people prefer to buy a good cell phone rather than save up to buy a car, because a cell phone "gives them greater personal satisfaction and social status than a car."
Brands, as the BRAINTRUST study clearly shows, must not remain oblivious to the profound changes in the sector or to customer criteria; "the use made of cars and the decision to purchase them is totally different from what it was a few years ago, and brands have to adapt to this." Brands are reacting slowly; although they are adapting in terms of design, they are not doing so as much when it comes to new payment solutions such as renting, leasing, or cash payment, whether or not it includes insurance, servicing, or other benefits. According to the consulting firm, some dealerships have opted to have two salespeople involved in the vehicle purchase process, one specializing in cars and the other in financing, in order to provide the buyer with the maximum guarantee throughout the process.
To build customer loyalty, brands should value and take into account customer criteria and experience in the car buying process when devising their strategies. Only then will they be able to anticipate and respond effectively to what today's customers really need.
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