By Luke Lunkenheimer
Hey fellow car aficionados. Luke Lunkenheimer here, representing the heart of used car sales in Central New York.
As we navigate the ever-changing landscape of the automotive industry, it’s crucial to recognize the shifts in consumer behavior, especially in a post-COVID world.
Over the past few years, we’ve all felt the impact of the pandemic on the market. Supply chain disruptions, factory shutdowns and economic uncertainty have all rocked the automotive industry. But as we emerge from the storm, it’s clear that the consumer mindset has evolved, presenting new opportunities for savvy dealers like us.
One significant change we’ve observed is the lingering effect of limited vehicle availability. During the peak of the pandemic, production lines ground to a halt, leading to a scarcity of new cars on dealership lots. While production has resumed, the ripple effects are still being felt, with supply struggling to meet demand.
But here’s the silver lining – this scarcity has translated into increased demand and higher prices for used cars. Consumers are turning to the pre-owned market, recognizing the value and reliability that used vehicles offer. And as seasoned dealers, we’re in the prime position to capitalize on this shift.
Our strong sales staff and three storefronts put us ahead of the game. We’ve weathered the storm, adapting and innovating to meet our customers’ needs.
Now, it’s time to leverage our hard-earned expertise and reputation to maximize profits in this new market landscape.
One key strategy is emphasizing the quality and reliability of our inventory. With limited new car options available, consumers are looking for trustworthy alternatives. By showcasing the top-notch condition of our used vehicles and offering comprehensive warranties, we can instill confidence in potential buyers and command top dollar for our cars.
See full article in the May issue of UCD. Lunkenheimer will be speaking at the NIADA Convention and Expo. His session “From Start to Finish: Leveraging Subprime buyers to maintain profitability during an economic downturn,” is 9 a.m. Wednesday, June 19.
