This session will focus on used car opportunities and challenges after a period of unprecedented high vehicle values and stock supply issues.
IMDA chair Umesh Samani is joined by IMDA colleagues and fellow independent motor dealers Jim Reid and Stuart Saunders to discuss a range of challenges faced by the sector and will identify the key ingredients of successful trading and weathering the current cost-of-living storm. The biggest single issue for independent used car businesses is stock acquisition and Samani will provide his own insights into why he never buys from auctions and how to build local relationships which provide both vehicles for the forecourt and custom. The panel will also explore stock funding, consumer vehicle finance and future proofing independent used car businesses including the need to embrace pre-owned EVs and why it’s important to blaze a trail in this emerging market.
Drawing on aftermarket analysts GiPA’s data and statistics behind the trends to pinpoint precise challenges and facing aftersales departments as 2023 dawns, Le Hetet will highlight vital requirements to ensure retailers maintain market share as EV ownership increases and the cost of living crisis tightens its grip. With the 0-3 years car parc shrinking and the 5-10 years parc expanding, dealers need to be far more proactive in enticing their used car buyers back to their workshops and attracting business beyond the traditional warranty period. Delivering more flexibility as the third year of below expectations of new car sales bites, dealers must deliver the best possible user experience by simplifying the customer journey by utilising digital tools such as online booking and personal video explainers.
Sally Foote has recently joined carwow as UK managing director, as part of her induction Sally has been given lots of advice from carwow's expert teams and combined with her own knowledge from more than 20 years of experience in eCommerce and marketplace businesses, is ready to share her learnings with the wider automotive industry - including secrets that others don't want you to know! Sally's session will share her own insights as well as industry trends and best practice to help dealers get the most from the changing automotive landscape.
The tensions being driven by consumer car buying choice are more evident than ever, as customers vacillate between the freedom and ease of online and digitised interactions and the desire for real life experiences. We all expect to toggle seamlessly between our online and offline retail journeys, and we know what great feels like, whether it is buying a coat or buying a car. Technology sits at the centre of this online/offline fault line, and providers are creating and building solutions at an exponential rate to keep a step ahead of consumer desire. But how can OEMs and automotive retailers best navigate this emerging technological landscape, what is best for them and where will they make the strongest commercial gains? In their session on the future of technology and automotive retail, Megan Harvey and Jacqui Barker will show that the answer lies in simplicity and human-centric delivery.
CitNOW Group will be exploring how to unite the retailer and customer to engage and exceed the customer expectation at all touch points within their sales and aftersales journey. Fairchild will be presenting exclusive research looking at a customer’s digital experience, what the customer wants and industry insights. Coupled with data from the CitNOW Group companies, the session will be packed with information, insights and tips.
CitNOW Group can also be found at stand C10.
Sinclair will explore how retailers can create the best customer experience online and in the showroom. There is no question that customer expectations of motor retailers are evolving in the third decade of the 21st century. The question is, how should established retailers react? At AM Live 2022, iVendi will be looking at how vehicle retailers can respond to this shift in consumer behaviour with a change in culture alongside the adoption of the best technology available. With the right attitude and the right technological capability, dealers of all sizes can thrive in this new world using strategies that not only maximise their online potential, but their showroom, too.
Unveiling the findings from Marketing Delivery’s latest consumer research, Evans will explore the difference between retailers where the use of digital tools accelerated as a result of the pandemic is ongoing and becoming even more sophisticated and where some bad habits, such as failing to capture more long-term leads, have been allowed to return. With new car supply issues continuing, the used car market under pressure, and inflation and cost of living spiralling, Evans will explore how digital and automated communication processes can be the difference between surviving the current crisis or falling by the wayside. Evans will draw on its vast data set providing insights into both easy wins and the rewards of looking after customers with longer vehicle replacement plans as well as real-life case studies.
The role of digital in the car buying journey is undeniable, with only a fraction of vehicles sold without a digital interaction. More than ever, consumers require a flexible experience that allows them to switch between physical and digital journeys seamlessly depending on their personal preferences. In this session, we discuss the expectations of today’s car buyers, highlighting what creates a successful buyer journey and exploring some of the ways automotive retailers are connecting the digital and physical worlds to create a great car buying experience. This is a panel session chaired by Philip Nothard, customer insight & strategy director for Cox Automotive Europe. Joining Philip will be Stuart Miles, managing director retail solutions at Cox Automotive Europe, Shaun Harris, commercial director, Codeweavers and two retailers.
Join Lookers' Karen Prince and Reputation as they take a deep dive into how Lookers are transforming their Customer Experience programme. The UK's third largest dealer group according to the AM100, Lookers want to create ‘customers for life’ with a CX programme that Listens, Reacts, Changes, and we'll discuss how this works in practice, and what advantages this focus and commitment on CX has brought the group.
Karen has 25-years' worth of experience in the UK's automotive sector, originally starting her career with Arnold Clark, before joining Lookers in 2014. Matthew and Pete are two of Reputation's automotive experts; Matthew having spent 12 years at Volkswagen Group, and Pete managing the accounts of some of the UK's largest dealer groups, including Lookers.
With the UK facing a labour shortage and the sector facing a skills deficit, attracting high calibre candidates to take up roles throughout automotive retail is a massive challenge. With the pandemic changing people’s attitudes to their work-life balance including working from home and fewer hours adding an extra burden, retailers are having to rethink their approach. At Peoples Ford, the senior management team has put in place a number of measures from working with schools and colleges to attract apprentice technicians to moving away from the traditional low basic-high commission sales pay model for new joiners. Connolly will draw on the business’ experiences in this inspirational talk illustrating how one group is implementing initiatives to combat recruitment and retention issues and create a working environment which delivers for all stakeholders.
This panel session will be led by the dealer group executives of the Automotive Management Live visitor advisory board, discussing the tactics they used to mitigate the many challenges of 2022 and the prospects for growth they see ahead in 2023.
Global technology company Wallbox, which provides electric charging and energy management systems, helps automotive retailers monetise EV charging. McCleave will explain how dealers can futureproof revenue streams by utilising different business models to sell EV charging units direct to customers and ensuring EV chargers installed on forecourts as demanded by OEM standards can deliver profit opportunities. McCleave will outline the EV challenge and provide multiple solutions which will translate into additional income. By drawing on dealer case studies, McCleave will show that by adapting their offerings, retailers can take even more advantage of increasing EV ownership.
Dr Rebecca Harding is one of the most respected international economists today and will provide some clarity surrounding the current political and economic turmoil the country is facing. Setting the scene, Harding will outline global challenges as the Russian war in Ukraine continues to affect the supply chain and soaring energy costs place households and businesses under increasing pressure whilst exploring how specific domestic issues are impacting the UK economy. She will focus on areas of particular concern to the automotive retail sector including trends around consumer borrowing and behaviours with an emphasis on vehicle financing; the property market and repercussions for commercial property; and the impact of global manufacturer strategy on the UK such as BMW’s decision to produce the electric Mini in China. In this insightful presentation, Harding aims to deliver a comprehensive but clear understanding of global and UK economic difficulties which will help contextualise issues to help retailers mitigate the bumpy road ahead. Attendees will leave with a clear perspective of current economic challenges but also with some great takeaways to consider for individual businesses.
