Three fifths of car dealers said they think new technologies such as augmented reality will provide a boost to their businesses.
Motor finance provider Moneyway conducted its inaugural ‘Industry MOT’ survey of car dealers to examine how they thought the industry would change in the future. Of the 100 motor traders asked, 60 per said they thought that technological advancements would boost business at dealerships, while 45 per cent said they thought the rise of online reviews and comparison websites would be of detriment to footfall.
Almost every business must embrace new technologies to enhance their products and services. For car dealers and garages, they must protect technological devices they keep on site against damage or theft by making sure it is included with their motor trade insurance policy.
Click and collect services - where a customer can customise, order and pay for a vehicle online before then picking it up at the dealership - are already changing the car buying process. "Meanwhile," AM Online reports, "an increase in the amount of information available online means that car dealerships have seen consumers continue to expect more from their services and products."
Reflecting on the findings of the survey, John Simpson, managing director at Moneyway motor finance, said that it is important that car dealers remain open to the idea of new technologies but that the outlook at present is "encouraging".