Great changes are taking place in the car industry...
(1) Consumer car purchasing patterns are rapidly changing with the availability of pricing, specification, and car customization online. Most dealers have added e-commerce capabilities to their normal showroom-based activities.
(2) Driving habits have been greatly affected by the global pandemic, including lockdowns, and the general unavailability of destination locations and hospitality resources.
(3) The increasing push for smaller, greener vehicles, some hybrid gas/electric, and fully electric. The exception being pick-up trucks which seem to be available in increasing sizes.
(4) The increases in ownership costs, especially taxes, licenses, smog testing fees, cost of gasoline and diesel, and more expensive repairs.
(5) Look for increasing automation as onboard vehicle diagnostics, performance, and location are electronically transmitted to manufacturer’s government-interconnected data hubs that will support continuous diagnostics, taxes, insurance based on driving styles and mileage driven, and congestion pricing in certain high-traffic areas (similar to congestion pricing on toll roads). Yes, there is also the possibility that they will monetize your data and provide advertising or advice on in-car entertainment systems. You might even be asked to pay a monthly fee to be commercial-free?
(6) The nature of dealerships is changing. Tesla is spearheading a direct-to-consumer business model that will disintermediate many routine customer interactions with live sales personnel at dealerships. State franchising laws that protect dealerships are being legally challenged. Many dealerships may downsize or disappear as some dealers turn into delivery and repair stations.
All of which is leading to the consolidation of dealerships into mega-dealers with highly automated and specialized functions.
Be aware of a reduction in floor sales personnel and more automation between the customers and dealerships. Beware of more automated diagnostics and plug-and-play parts replacements requiring less-skilled mechanics.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?