You know you are going to have to eventually, don’t you? You probably also realise it will be much sooner than you think, right? So what are you doing to plan for this enormous change over?
Where’s the opportunity?
This is where I can help. With 20 years retail experience in the West Country followed by 10 years as a senior Consultant working for most of the big manufacturers such as Mercedes, Toyota, Land Rover, Honda and others. I can help you make the switch to retailing used EVs and carving out a name for your business as experts in this new world of battery powered motoring. But you need to move fast and make the right plans before it is too late. Once the big boys in the motor trade wake up to the enormous opportunity in EV sales it could be too late for you. And we all know what the big boys are like. They usually spoil it for the rest of the trade. Doesn’t mean to say they always do it right though. Shifting a lot of units doesn’t necessarily build a good business or a profitable one.
We have all seen lots of changes in the motor trade over the years but this is the big one. Battery electric vehicles are the future and the transition is happening very swiftly. 2021 will see a huge number of new models come to market. You will also see the prices come down to compete with ICE models. Just watch the monthly SMMT figures to see the trend. Diesels are dead and petrol models are following suit. You need to start thinking about retailing used EVs before ICE residuals disappear. Don’t forget with less than 9 years until ICE stuff is banned, people will start moving away from them a lot sooner. Not everyone will want or can afford a new car. Will you be ready?
But sales of ICE cars are going well!
The problem right now, is the pandemic. It’s building false demand and making ICE stock sell OK and return good profits in most cases. But this won’t last. The wheel is turning and the big opportunities in sales is now. The early bird catches the worm and all that.
I believe the big difference this time is not the cars it’s people perception. There is a lot of myth and misinformation flying around about EVs and as a retailer you need to forget selling! First of all you have to advise potential customers on lots of things such as – why they should change to electric, what the benefits are, what the huge savings can be and how to drive and charge their new vehicle etc. Also, you will need to gain their trust by advising them about the potential pitfalls. Choosing the wrong model, not understanding how to get the best from the car, being anxious about using public chargers and so on. Your customers will not want to be sold to, they will be looking for advise and reassurance they are doing the right thing. Then if you get the sale, you are likely to gain a good customer and ambassador for other sales because you will have built trust.
There are lots of customers right now buying new and used EVs despite the dealer. You need customers that want to buy from you because you are the expert, give them confidence and they trust you.
I can help you navigate this transition and build a great new EV business. Just don’t leave it too long to start!