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“In the next ten years, 40% of all new vehicles will be sold to millennials, and they’ll be buying cars for the rest of the 21st century” [AutoTrader]

In 2013, AutoTrader conducted an extensive study of the millennials buying motives and power. Fast-forward to present day and we clearly see these findings unfolding as automotive dealerships perform back flips to keep up with consumer demands. There are enough articles about the habits of millennials and the iGeneration to fill a small galaxy. With so much information to sift through, how can a dealership stay up-to-date on the latest trends, technology, and marketing, and still sell cars?

A thriving dealership knows to never miss an opportunity with a captive audience. Automotive Broadcasting Network cites 400 million hours of wasted in-store time spent by Americans in a year. Too many dealerships herd these consumers, waiting on service or F&I, to solitary confinement with a cup of bad coffee and a fish tank to entertain them.

Dealerships lease new vehicles at a greater pace than ever. It's a trend no one from finance to insurance to accessories can afford to ignore. Global information services company Experian revealed a record 31.46% new-car transactions come as leases. The Q2 mark eclipses the 30.22% reported in Q1. Average lease payments dropped in Q2 to $405, $7 less than the same quarter in 2014. Other data from the report gave shape to a movement of larger scope.

Dolby surround sound isn’t the only must-have accessory in your new car. New autos often feature onboard Wi-Fi. It’s like your home Internet network. It can connect devices inside and outside your vehicle. This connectivity can do more than check baseball scores or give you social-media access.

In the past few years, dealers have found that leasing has become a more popular choice for car buyers. When a customer leases, there are many advantages to both the buyer and the seller. Consumers enjoy the benefit of low payments, the ability to get a new car every few years, and latest technology and safety systems.

When presented with a prospect, one of your first questions will be: “What are you looking for in your new car?” From there you’ll narrow down the type of vehicle, make, model, and list of features. Features on a vehicle used to not carry much importance, but today they can be a major sales solution. Today’s “A la carte” culture has placed an extreme level of significance on options in a purchase deal. Another factor weighing heavily on the car deal is a customer’s budget.  So, what do you do when a customer’s taste in features doesn’t fit their budget?

You let them order “A la carte.”

As another way to show our commitment to helping you make more by selling accessories, Insignia Group provides easy-to-use word track examples. The use of these word tracks can help you verbally transition from the sale of the vehicle to selling accessories. Getting to know your customer during the car buying experience will help you understand their lifestyle, making it easier to determine what accessories are the best fit. 

In the Insignia blog, we've discussed the growing automotive accessories market and the 4 main advantages of offering accessories. Now, we'll take a closer look at each of these advantages. Today--the financing advantage. 

Whether a Notre Dame fan or not, you have to admit the "Play Like A Champion Today" slogan and ritual is inspiring.  The term champion brings to mind admirable qualities. Leadership, devotion, and discipline are all qualities that extend far beyond the athletic field.  When looking to develop a strategic vehicle personalization plan, you'll need to designate your own "champ" to drive success.

OE accessories aren't the only way to build a personalization profit center in your dealership! Your customers have different needs for their new car, and adding accessories is no different. Whether you're customer is interested in keeping cost down, or has needs beyond the OE product offering aftermarket is always a good place to look.