With the rapid onslaught of innovation, technological advancement, and shifts in consumer preferences, dealerships must work harder than ever to stay on top of the latest trends driving the car business forward.
On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Gary Barbera, founder of Barbera’s Autoland, a Jeep, RAM, Chrysler, and Dodge dealership based in Philadelphia. Now, Barbera discusses the importance of the customer experience in today’s market and how retailers are balancing inventories to meet demand.
Key Takeaways
1. Barbera discusses how his dealership strategically acquired pre-owned vehicle inventory to capitalize on market demands and how this approach has helped them navigate affordability challenges in the current market.
2. Selling electric vehicles continues to be a struggle, mainly due to range anxiety among consumers and the variance in adoption rates between regions like Philadelphia and California.
3. Barbera notes that the customer experience is becoming increasingly important in the world of car sales. Going forward, dealerships must account for changing consumer behaviors and expectations when developing their strategies.
4. Leasing has seen a resurgence in recent months, particularly for battery-powered cars. This suggests that dealerships are looking to move their electric vehicle inventory as supply levels normalize.
5. The car industry learned much from the COVID-19 pandemic. Most importantly, dealers now realize the need for continuous adaptation in dealership operations and for a strong used vehicle strategy that is able to meet consumer demand while maintaining profitability.
"I think pre-owned is what is gonna close the gap to make things more affordable for people [and] to get the value that we need from people in order to get them to step up a little more in payment." — Gary Barbera
