SHOPSMART AUTOS – CUSTOMER INFORMATION – NOVEMBER 25, 2020
I’m a ‘hand-raiser’. Prompted by the actions of thousands of other Americans, I’m actively preparing to buy a car. Please note, I don’t even have a driver’s license. As I embark on the car buying experience, though, I can’t help but think like a designer. Cars are obviously amazing machines, and they’ve always offered their owners incredible freedom. In a way we couldn’t have imagined a few months ago, there’s something newly compelling about car ownership – safety. Potentially great news for car manufacturers, it means that there’s an immediate and urgent pressure for the car buying journey to transform. Here are some of my observations and a few recommendations for the auto-industry as they grapple with the same issue that we all are dealing with…global behavioral disruption.Curves ahead: Disruption spurring changes across the auto industry
It’s very clear that the global auto industry is recalibrating – and that the car buying experience is changing, too. In January of this year, CNBC reported that US auto sales would be about 17 million vehicles in 2020. That number, constantly being revised is now expected to be about 13 million. USNEWS notes that April car sales were off by 45% from 2019, but that was only 4% off by the second week in July. Numbers, however, only tell part of the story. Attitudes, expectations, and behaviors are shifting and adapting. Some will eventually return to pre-2020 standards, while others will continue to be shaped by our news realities. In April, Mintel notes that car buyers fall into two camps – ‘WANT car buyers’ and ‘NEED car buyers’. The ‘Wants’ are expected to be very deliberate about owning a particular vehicle longer due to economic concerns, the ‘Needs’ will buy a car in the next 3 to 6 months due to lease expiration, mechanical issues, or general reliability.
COVID-19 is making auto ownership more appealing and the car buying experience more important
I contend, through my personal bias, that there’s actually a third group, the ‘OPPORTUNIST car buyers.’ The Opportunists, like me, are exploring and weighing the increased flexibility, freedom, and – above all – health related peace of mind that automobile ownership would offer. This includes who have not owned or leased a car in years as well as those who have never owned a car. In the new world, they no longer trust the close quarters, and high touch environments of public transport. They want to be able to experience the world on their own term, and that is with a focus on limiting their exposure to contact with others. The car has recently become associated with a type of safety and freedom previously overlooked…wellness. With a new urgency to be able to quickly get to family and friends in a social distant environment, people also want to be able to attend to more mundane, everyday activities like obtaining food and other supplies.
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