Are you an auto dealer who wants to increase sales and dealership valuation?
If so, you need to make it your aim to please Millennial customers. Millennials are individuals born between the early 1980s and the mid-1990s to early 2000s. Currently, they are driving car sales and are “critical to the U.S. auto industry,” stated Business Insider. Frankly, if your auto sales are low, a lack of catering to Millennial customers may be the source of your problem. A dealership valuation expert witness may be able to provide the help you need!
Increasing Auto Sales Can Increase Dealership Valuation
Since the recession, auto sales are at an all-time low. Still, automobiles remain the largest retail sector in the U.S. Despite this, auto dealers are frustrated because of low sales and want solutions that will increase sales as well as dealership valuation. In fact, sales directly increase what an auto dealership is worth.
If You Want to Increase Auto Sales and Dealership Valuation, Cater to Millennial Buyers
Here are two powerful ways to do this:
1) Relate to them as peers – In general, Millennials want to relate to salespeople on a peer-to-peer level. When selling them vehicles, approach them in a friendly, relaxed, non-condescending way.
2) Don’t push them to buy beyond their budget – More than any other generation in history, Millennials are laden with student loan debt. Because of this, they “are looking for smaller, cheaper vehicles, according to new research by AutoTrader. They’re also far more likely to do their research online, often with their smartphones,” stated CNBC. Be careful not to push Millennials to buy beyond their budget, or they may move on to the next auto dealership.
Increase Auto Sales and Dealership Valuation with the Help of a Dealership Valuation Expert Witness
Would you like to increase sales as well as dealership valuation? If so, consider contacting a dealership valuation expert witness. A dealership valuation expert witness also referred to as an automotive expert witness, is excellent at helping auto dealers develop strategies to increase sales, reduce debt, and resolve tax and legal issues that can depress dealership valuation.
Looking for an effective dealership valuation expert witness? If so, reach out to Bryan Parker, a dealership valuation expert witness you can trust.