Alternative vehicle ownership is becoming increasingly popular among consumers.
The traditional idea of car ownership will not go away overnight, but the industry will see a transformation in the next few years. So, what will ultimately cause a decline in vehicle ownership? Specialists say there are several factors such as ridesharing, subscription services, and autonomous vehicles among other alternative ownership models.
What do dealers make of this? Well, only 1 in 10 dealers see these trends as a threat to their business. Subscription services offer dealers a huge opportunity because it gives them another option to add to their business plan. It also allows consumers to experience multiple vehicles within your brand, and it will lead to an increase in revenue from fixed-ops as well.
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