Fixed Ops Magazine - 2022 Vol19 05 - 60
difficult. The decreased inventory of new vehicles also
increased the value of used vehicles. Cars.com reported
that the price of their used vehicles in 2022 was up 37%
compared to 2019.
On top of this, rising inflation hit 9.1% in June and continued
to pinch consumers' budgets, leaving them with
less expendable income. For these reasons, fewer people
are purchasing vehicles and are opting to hold onto
the ones they already have.
In 2022, the average age of a car on the road is more
than 12 years old. A recession would likely mean this
number would continue to increase as more people
hold on to their vehicles longer. Typically, the older the
car, the more service, maintenance, and repairs it will
need. This means people will need to purchase parts.
Even if purchased over the counter from a local parts
seller, most part purchases begin with a search online.
Having an online presence allows dealers to capture
these parts buyers and cement new revenue for the
dealership.
THE FUTURE IS IN ECOMMERCE
Whether or not the U.S. officially enters a recession,
dealers should look for additional revenue streams to
60
help them future-proof their dealership. Dealers can
take the lessons learned throughout the pandemic,
such as creating a new revenue stream by selling OEM
parts online to make their dealership accessible to
more buyers, and apply them to be prepared for any
possibility.
Brian Servatius is Vice
President of Business
Development with key
partners at RevolutionParts.
He ensures success
with
partnership
development
from conception
tation,
overseeing
to
implemenall
phases
of go-to-market
strategies and operational plans. Brian is experienced
in business development, training, and account management
roles at eBay Motors including responsibility
for scoping/targeting, negotiating, and executing
deals with large national auto parts sellers utilize eBay.
http://www.Cars.com
Fixed Ops Magazine - 2022 Vol19 05
Table of Contents for the Digital Edition of Fixed Ops Magazine - 2022 Vol19 05
Fixed Ops Magazine - 2022 Vol19 05 - 1
Fixed Ops Magazine - 2022 Vol19 05 - 2
Fixed Ops Magazine - 2022 Vol19 05 - 3
Fixed Ops Magazine - 2022 Vol19 05 - 4
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