By Bob Cooper
Here in the states, you don’t have to look very hard to find Hyundai and Kia vehicles. They are not only becoming quite popular, but in the first half of this year their combined U.S. market share was 9%; putting them ahead of Nissan, and right behind Honda. I am mentioning this to you because it wasn’t very long ago when these two brands were unknown in the U.S., and because I feel this increase offers a peek into the future.
Look at it like this: In the clothing business, it’s hard to determine what’s going to be popular in a few months, let alone in a few years. The same is true in technology, music and number of other industries. The good news for you is that you can see what your future is going to look like by following the current trend in new vehicle sales in your local community. If you do just a little homework, you will be able to tell which types of vehicles are selling, and which are not selling. This research will give you a better understanding of what your customers are going to be driving in the years ahead. For example, there is no question that the U.S. manufacturers are making a comeback in the quality of their products, and that the Korean companies are consistently gaining market share.
As a business owner, it’s up to you to determine the types of vehicles that you will be servicing in the coming years, and from my point of view, there are a number of things you should consider. The kinds of vehicles that are the most profitable for you, the potential increase or decrease in the market for those vehicles, and the types of people who drive those vehicles are among the most important considerations. There are a number of things in business that we are unable to predict, yet there is one thing you can predict: The types of vehicles that people in your community will be driving in the coming years. So, if you haven’t already done so, then now is a great time to peek into the future by discovering what people in your community are buying today.
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