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Here’s What You Need to Know About Luxury Cars 

Posted on May 26, 2022 | by | Posted in Insurance

Luxury cars symbolise decades of history and craftsmanship, which sets them apart from other vehicles. Collectors and enthusiasts alike have been amassing collections of luxury automobiles from the early twentieth century to the present day. The cult following of various brands and models has distinguished luxury automobiles from regular everyday vehicles since their conception. Are you interested in owning one for yourself? We are here to help you make that decision! In this article, we will be presenting what you need to know about luxury cars!

Where did it all begin?

The history of luxury automobiles is concise yet has a lot of memorable moments. About one hundred years ago, the first modern luxury automobiles were produced. Henry Ford was the inventor of the very first high-end automobile. He made a notable transition from manufacturing horse-drawn buggies to manufacturing horseless carriages, or cars, as they are more commonly known today in modern language. The Ford Motor Company quickly became one of the most recognisable names in the history of the automobile industry.

What makes luxury cars different?

The pricing is the most apparent and first distinction between luxury cars and other vehicles that people observe. While you may be able to purchase a midsize car base model for less than $20,000 or an SUV for less than $40,000, a luxury vehicle can cost well over $100,000. Moreover, premium vehicles are typically constructed with superior materials. Luxury automobiles typically employ wood trim in place of plastic covers for elements such as cup holders and storage bins. In addition, many luxury vehicles feature electrical components that ordinary vehicles lack. These additional high-quality extra features are the main differentiator between your Lamborghinis and your Corollas. 

What is the impact of luxury cars?

Luxury automobiles are a hallmark in pop culture. They feature in films and on television to illustrate the luxurious lifestyles of the characters. The legendary DeLorean DMC-12 from the 1985 film “Back to the Future” is a prime example. The DMC – 12 may resemble a chrome-plated Monster at first glance. However, it is the offspring of John DeLorean, and in addition to its mad scientist look, it features a 130-hp, 2.9-litre V-6 engine. However, its ability to travel through time, which in the 1980s was considered a piece of futuristic technology, makes it an icon. Automobile manufacturers frequently donate vehicles to the production crew for free advertising within the project.

Are they worth their high price point?

Despite their hefty price tags, luxury automobiles are well worth the additional safety, comfort, and speed they offer. Considering maintenance and fuel costs, a premium vehicle could save you money in the long run. Obviously, that depends on how frequently you drive or use your cars. If you primarily use your vehicle to commute to work and run errands, a premium car may not be worthwhile due to its higher cost per mile. Suppose, however, you need your vehicle to be as secure as possible, or you need to move from one location to another as quickly and efficiently as possible. It makes sense to own a luxury vehicle due to the numerous safety features not accessible on regular cars.

How do I know if a luxury car is right for me?

Several considerations will assist you in determining if a luxury vehicle is ideal for you when you are considering purchasing one. Consider how frequently you use your car and for what purposes. If the majority of your driving is on city streets or highways, a luxury vehicle may not be worth the greater fuel consumption and insurance prices. Suppose, however, that you frequently drive for business or pleasure. In this instance, it may be worthwhile to invest in a larger car with additional features that enhance the driving experience and make the daily journey more comfortable. 

What features make luxury cars distinct? 

The majority of automobiles on the market today are designed to make driving more manageable and convenient. The variety of amenities might vary significantly between models and manufacturers, but some features are standard in luxury vehicles. Current supercars typically include scissor doors or inward-opening doors. This is reflected in the Lamborghini Aventador’s unique design. The doors open upward to eliminate the need for additional space in the parking lot and allow the driver to see out the door while reversing, as these automobiles typically have inadequate rearview capabilities. The Aventador is equipped with miniature explosives in the door hinges to release the doors in an accident in which the vehicle is inverted. This enables the driver to exit the car when the doors are otherwise impassable.

Are luxury cars hard to maintain?

As a result of their numerous premium amenities, luxury vehicles may be more expensive to maintain than standard vehicles. This may involve replacing high-quality tyres, fuel pumps, airflow sensors, and many more components that need replacing from time to time. If you drive a luxury vehicle for an extended period, it may be more expensive to replace it than if you had bought a new car after two years. It is suggested that you invest in high-quality tyres from well-known manufacturers so that your vehicle operates optimally and lasts longer. You should also set aside funds for unexpected expenses because luxury vehicles are constructed to higher standards, and maintenance might be costly as you can expect. Interested in getting insurance? Feel free to visit Matrix Insurance if you need luxury car insurance for your luxury vehicle needs!

7 Profit-Enhancing Strategies for Automobile Dealerships

Posted on May 26, 2022 | by | Posted in Insurance

At first glance, the business of car dealerships undoubtedly appears extremely lucrative. Car keys are exchanged between owners and customers every day, and expensive vehicles are driven off dealerships just as much. However, those highly involved with the retail automotive industry are aware that dealership profitability in the current economic context is precarious. That’s where we come in! In this article, we will be going over our profit-enhancing strategies for automobile dealerships!

1. Work within your locality

Many aspects of service marketing are now within the hands of manufacturers and not the car owners. Because this business technique assures brand uniformity across the country, it makes sense for the factories to utilise this. On the other hand, a one-size-fits-all approach isn’t always feasible at the local level, as you’ve probably experienced for yourself. You can use text or call them, or use social media direct messaging to provide messages to specific service customers in today’s ultra-connected digital world. 

With the correct technologies and a thorough grasp of the ownership cycle, you’ll be better positioned to win the next service call. Your dealership’s ability to compete with surrounding franchises and aftermarket service centres depends on tailoring your service marketing to your customers’ vehicle ownership lifecycles, from new owners to pre-owned owners to value-based owners.

2. Improve your management

The profitability of a dealership and the calibre of its employees go hand in hand. When you have the right team in place, your dealership reaps the benefits of top workers who excel at sales and customer service-oriented technicians. In contrast, when a high employee turnover rate plagues your dealership, you suffer ongoing costs associated with acquiring new employees. 

Develop a strategy that will allow you to recruit and retain exceptional and top tier people. Incorporate a systematic recruiting procedure that attracts good employees. Execute rigorous new-hire training that encourages employee retention, and seek to instil a dealership culture that recognises and rewards successful team members who will benefit your business in the long run.

3. Make sure all your cars are clean

Rising customer demands make vehicle refurbishment a must in car dealerships. Improving the appearance of your automobiles boosts your chances of selling one. You wouldn’t purchase a piece of furniture with stains all over it and crumbs between the cushions, so why should a used automobile be any different? Ensure that you hire someone who can make all your vehicles eye-catching. You will never go wrong if each car is entirely retail-ready!

4. Utilising the internet 

In recent years, the automobile dealership experience has experienced a fundamental shift, with potential car-buyers increasingly substituting online automobile evaluations and vehicle history data for dealership visits and test drives. People spend a reasonable amount of time on the Internet to research before making a vehicle purchase. There are currently a variety of innovative systems available to dealers, all of which are geared to assist purchasers in researching inventory online and completing the majority of the transaction from the convenience of their desktop or mobile device.

Since you can no longer rely on automobile buyers physically visiting dealerships in their leisure time, you must engage them on their preferred platform. Enhance the online car-buying experience on your dealership’s website and communicate with potential clients. You can also utilise social media to answer inquiries and address customer issues before they become negative reviews. Achieving an impactful online presence will positively affect the profitability of your dealership.

5. Find other avenues for revenue

Consistent revenue will always be the top priority for every enterprise. Adapting and discovering alternative revenue streams can help you sustain your dealership. With an eye toward the future, auto parts retailers may want to consider selling auto parts online as a profitable way to generate sales from both existing and new consumers. You can use your company’s website to construct an effective order-buy system that you can offer to your current clientele. Start by concentrating on high-turnover items and best-sellers. As you experiment with parts supply and various marketing communications techniques, use your parts store as a catapult to advertise your dealership’s vehicle inventory and service facility to potential customers.

6. Offer online F&I services

Dealerships are empowered to interact and cooperate with clients before they even approach the dealership by allowing them to begin the F&I process online. The first step is to offer a wide range of cutting-edge F&I goods that match the needs of your consumers. The openness of the online experience allows consumers to access relevant information and modern digital tools such as films, infographics, and references to grasp the value of F&I products better.

Customers must be educated about the condition and worth of F&I items before making an informed decision. You can’t control your consumers’ access to knowledge in F&I, but you may help them investigate and fulfil their demands. Online F&I processes must be instructive and instructional so that when customers get to the dealership, they are ready to work with a sales consultant.

7. Invest in maintenance 

The most important part of owning a car dealership is making sure all your vehicles are ready to hit the asphalt as soon as they’re purchased. In this day and age, our modern cars are often filled with complex pieces of technology. About 10,000 parts and components are needed to manufacture today. Besides the hardware, it also contains many features that revolve around its software. A good car should work perfectly in any weather and be reliable any day of the week. To guarantee your customer a fully functioning automobile, you must invest in maintenance. 

Are you interested in getting your car insured as well? Feel free to contact Matrix Insurance to have access to the best motor trade insurance brokers who will be glad to assist you in getting the best insurance package.