Average year of a company in operation, which was earlier 30 years, has come down; in the last 18 years, 52% of the companies in the Fortune 500 list have slipped out: RS Kalsi,
In India, used car business is 1.6 times of new car business. In the US, used car business brings 40% of dealership profitability. — Nikunj Sanghi
Ashish Kale of Provincial Automobile: We dealers have lots of opportunities in developing used car business as a separate segment.
Pankaj Dubey of Polaris India: While using data to improve business, accuracy of data is very important. Garbage in, garbage out!
Correct the past, manage the present and build the future! That’s what we all need to do to remain relevant, profitable in this competitive world.
Rama Shankar Pandey of ACMA India: If a customer buys components and builds a car vs an OEM manufacturing a car, the cost difference would be 10 times.
Sumit Sawhney: OEMs will have to collaborate with service providers. We have to move from the era of car manufacturers to providers of smart mobility service. It requires change in mindset and leadership style.
Sumit Sawhney of @RenaultIndia: Autonomous, Electric, Connected & Shared are going to be the four major trends in the automobile sector on the product side.
Imperative for dealers to manage working capital, Rakesh Batra
Prasanjeet Dutta Baruah of @facebook India: Survey shows 40% of people are comfortable booking a service online against the current figure of 8%.
60% of searches for auto on Google is from non-metros.
28% searches on Google app is through voice
Sanjay Thakker of Group Landmark: In the US top 10 dealerships control only 10% of the auto retail business which means there is room for everyone.
Cost components of Dealership (15-20% is interest cost.)
If we don’t prepare well for BS-VI implementation phase, some dealer networks are going to face a big problem in the year 2020 in terms of inventory management. — Nitin Seth
Shalu Jhunjhunwala of @Google India: There has been 8 times increase on Google Maps for search in Dealer near me.
It’s a temptation with 2-wheeler dealers to graduate to 4-wheeler dealers without realising the need for greater capital. My suggestion is don’t diversify unless you are ready for it. — Y S Guleria of Honda Motorcycle & Scooter
OEMs need to treat their dealers as their first customers. — RS Kalsi
According to a dealership survey, the cost of capital is more than 25%. — Nikunj Sanghi
By just expanding for the sake of it we just make the banks profitable not the dealers or the OEMs. — Nitin Seth of Ashok Leyland
It’s time to over promise and over deliver. For, if you under promise why would the customer buy from you? — R A Kalsi
80% customers research online before buying online. Social media and search are great influencers.