Covid-19 crisis is likely to drive a rapid evolution of consumers attitudes towards digital channels. Many may find themselves buying products online or directly from producers which they would have only considered purchasing from a retailer a few months ago. Others may never have used an online channel before and will suddenly find a safer more convenient way to conduct purchases. Dealers will continue to play a role but few can believe that this role will not evolve from its current form. Whether that’s in the way that servicing is provided, how OEMs sell parts and accessories, the degree of channel integration and OEM oversight, or indeed, how we buy new and used cars. Only time will tell. The next few months will likely see a quieter period with little dealer activity and low volumes for OEMs. Whilst this is challenging to the P&L, it is also an opportunity to accelerate initiatives which have lingered on the shelf for too long or which have been characterised by dipping toes in the water rather than truly grasping the opportunity to evolve business models. Dealers could also look to develop and innovate new services with short-term potential, for example a flying doctor approach to repairs at the customer’s home (if government guidelines allow). What does the future hold for this sector? *Source: Google
Speakers:
John Paul - MD, Popular Group | Sharvik Shah - MD, Rajesh Motors | Nikunj Sanghi - MD, JS4Wheel | Jagdish Khattar - Former MD, Maruti Suzuki
Moderator:
Mohit Arora - Partner, Mondriaan Singapore
Recommended For:
BUSINESS PROFESSIONALS | ENTREPRENEURS
