Flexibility to Adapt to Changing Market Conditions
Kevin Londerholm | October 15, 2019
Market conditions in the Auto industry are changing rapidly, which can be disruptive or create opportunity. You may ask yourself; how can my dealership adapt to these new products, ideas, and generation of consumers?
- Economic cycles
- Vehicle technology
- Consumer affordability relative to vehicle cost
- Ride-share programs
- Subscription models
- New ownership models
- Changing wants and needs of the younger generations
The more flexible your business model, the greater ability you have to adapt to changing market conditions. So, how can you become more flexible? One increasingly popular way to be competitive with the listed factors above is to incorporate a Lease-Here, Pay-Here model. Using a lease as your financial instrument provides the ability to overcome consumer affordability challenges, offer programs for your ride-share drivers, create your own subscription agreement, and maintain your flexibility for whatever is over the next horizon.
Find out more about how an LHPH model can help you effectively navigate rapidly changing market conditions by reading our E-book.