The last couple of years has undoubtedly been unprecedented and unique in the automobile market. Although challenges have arisen, that does not mean 2023 will lead to improvements and positive changes in the industry. Supply chain issues are slowly improving, and prices are continuing to slightly drop, which are good signs that things are starting to move in the right direction. However, a new year does not mean everything will proceed with no problems in your dealership. 

Here are some things to consider in the auto industry moving into 2023 that can best equip you to make the best of this year. 

Electric vehicle sales will continue to grow and should maintain a consistent demand. Many makes have a waiting list for their electric models to come off the assembly line and arrive at the dealership. Other models are even exclusively ordered online now. The Biden Administration and their Inflation Reduction Act will potentially take into more effect this year, as opposed to the previous year. It is key to make sure your dealership is prepared to effectively manage electric sales and best accommodate your customers. 

Purchasing trends and car buying experiences will also continue to change. Because car dealerships are not going anywhere, your dealership must keep on top of the popular methods to go about the buying process. The online process to help purchase a car is becoming more prominent and creates a smoother experience inside the dealership. Social media will continue to grow and change the way cars will be sold and how dealerships present themselves. What are the ways that your online presence can help drive more sales to your dealership? 

Lastly, inventory may continue to vary at dealerships. Things are moving in the right direction, but demand will stay consistent for used and new vehicles. It will be important to maintain a diverse inventory and best assist customers with ordering vehicles. Trends predict that ordering online will be a large portion of car buyers at their local dealerships. 

Your dealership needs to be adaptable and prepared for what is to come to the market. Contact us today to see how we can help you have a successful year at your dealership.