How Used Cars are Driving Automotive OEM Revenue
According to a recent Wards Auto article, many automakers are changing their mindset from new vehicles to used vehicles. Find out why this is the case to ensure your processes are up to date on industry changes and driving automotive OEM revenue.
Traditional OEM Mindset
As cited in the article, OEMs have traditionally been very focused on new, factory-made cars. Aside from running their own certified pre-owned vehicle programs, their interest in the used car market was limited.
How That Mindset is Changing
However, many are now interested in used vehicles at their dealerships beyond their certified pre-owned inventory. This is because many have realized used cars offer significant automotive OEM revenue opportunity. For example, used cars offer an avenue for them to build brand awareness.
More affordable than new cars, used cars enable OEMs to garner consumer business and build loyalty from the get-go. Additionally, by selling used cars at their dealerships, OEMs are still able to offer other benefits, such as parts and service.
How to Embrace it
To accommodate this mindset shift, advanced software programs have been developed to help OEMs acquire used car inventory at their dealerships. For example, these programs search auctions and other used vehicle supply sources, alerting dealerships when a vehicle meets their specifications.
By embracing this mindset shift to used car sales, OEMs that take advantage of the used car market are likely to see increased revenue and brand loyalty across a broad range of consumers.
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Ensure Your Automotive Adhesives are for the Long Haul
As more consumers buy used cars, and more dealerships start to sell them, it’s important for OEMs to consider the impact automotive adhesives have on vehicle performance, longevity and durability.
Bostik manufactures automotive adhesives designed to:
- Enhance assembly efficiencies
- Increase overall vehicle aesthetics
- Improve fuel efficiency
Contact a Bostik expert today to learn how these solutions can meet your OEM specifications. You can also view this relevant content: