According to Neil Fryer, vice president and general manager for the global Delphi Technologies Aftermarket Business at BorgWarner, with more aging vehicles on the road and a desire from owners to ensure they have a long service life, there will inevitably be more demand for vehicle repairs. This is a tremendous opportunity for tire dealers to take advantage of the extra profits to future-proof their businesses, especially as we face one of the most significant changes we’ve ever seen in automotive history.
Most of us are back to living lives that resemble our pre-pandemic selves, but chip shortages persist, and new car production rates still haven’t recovered, with Trading Economics still recording a significant drop in United States car production compared to pre-pandemic rates, and The Alliance for Automotive Innovation recording that North America lost more than three million new units last year alone. Because of this, demand for second-hand cars is soaring, driving up their price and elongating ownership cycles.
This article first appeared in Tire Review.
In this article, Fryer discusses some key opportunities including:
• ELECTRIC VEHICLES: PREPARATION
• EV TRAINING
• EV EQUIPMENT
• DIGITAL TRANSFORMATIONS
• FUTURE-PROOFING YOUR BUSINESS
Change is coming, says Fryer, but it’s not here yet. There is no better time to prepare than when the number of aging cars on the road increases. By working to improve your skills and capabilities today, you will ultimately be able to support your business’s development into the future, when your shop’s skillset and customer service offerings may look very different from today. So, seize the opportunity, and prepare for tomorrow.
