Fixed Ops Magazine 2024 Vol 21-1 - 53

as more environmentally friendly, addressing a growing
concern among consumers.
This shift presents both a challenge and an opportunity
for parts businesses, especially at the dealership level.
The rise in EVs means increased demand for specific
components like batteries, electric motors, and specialized
electronic parts. These components are distinct
from those in traditional internal combustion engine
(ICE) vehicles and require specialized expertise.
For the dealership, this means strategizing to take
advantage of this shift by expanding inventory to
include EV-specific parts and investing in training of
staff for these specialized vehicles.
ADVANCEMENTS IN
AUTOMOTIVE TECHNOLOGY
The technology added to passenger vehicles is quickly
advancing year-over-year, with features like Advanced
Driver Assistance Systems (ADAS) and Collision Avoidance
Systems. In addition, adoption of autonomous
driving technology is already underway. Once just a
futuristic concept, autonomous cars are already on the
road becoming a reality. These vehicles come equipped
with advanced sensors, cameras, and artificial intelligence
systems, enabling them to navigate complex
traffic scenarios safely.
One example of this phenomenon is Waymo, the autonomous
taxi service now available in select U.S. cities,
including Phoenix, Los Angeles, San Francisco, and Austin.
Waymo's autonomous capabilities are also becoming
increasingly available in personal vehicles.
These advancements will likely lead to fewer collisions
and less business for collision centers, meaning
less sales for the parts departments. However, these
advanced technologies are typically very OEM-specific,
also meaning your parts department could hold an
advantage when a part needs to be replaced. A study
by S&P Global Mobility revealed that the average age of
U.S. passenger cars has risen to a record 13.6 years. This
trend is attributed to factors such as supply constraints
on dealer inventories of new vehicles and economic
pressures like higher inflation and interest rates.
AGING PASSENGER VEHICLES
As new vehicles increase in price and interest rates
remain high, many people opt to delay buying and keep
their existing vehicles. As the vehicles they drive age,
they will require increased maintenance and repairs.
The owners of these aging vehicles tend to take a more
DIY approach to maintaining and repairing them. These
are the customers that your parts department needs to
connect with. One way to do this is to adopt an eCommerce
strategy, as these DIY customers often turn to
the internet to find the parts they need. Your dealership
will gain access to a broader customer base by selling
parts online. This is the perfect opportunity to introduce
your dealership to people with older cars who may soon
want to trade their older vehicles for something newer.
Every interaction with a customer is a chance to gain a
lifelong customer.
CHANGING CONSUMER BEHAVIORS
It should come as no surprise that the parts industry is
significantly shifting towards selling parts and accessories
online. This evolution is driven by consumers'
JANUARY FEBRUARY 2024 || FIXED OPS MAGAZINE
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Fixed Ops Magazine 2024 Vol 21-1

Table of Contents for the Digital Edition of Fixed Ops Magazine 2024 Vol 21-1
