As an attempt to be proactive and avoid bankruptcy, many car dealers in Central Europe have decided to expand their business and invest in new areas.
In the face of changes in the global market, this attitude can be understood as the realization that car dealers need to continue to grow in order to survive. 16% of Czech car dealers, 14% of Austrians, 32% of Hungarians, 34% of Slovaks and 27% of Poles plan to sell more than one brand in their showrooms.
This in itself is evidence that car dealers’ attitudes
To change have evolved over the last few years and indicates the direction the industry can move in the future. The traditional distribution model is finding itself increasingly challenging in multi-channel operation rooted in changing consumer preferences and hard product pressures caused by supply failing to meet market demand. Thus, smaller, independent traders are expected to gradually go bankrupt due to multi-channel operation and low economic viability – but they may also be bought out by larger marketers interested in their real estate assets.
Car dealers have begun exploring
New business concepts such as buy-back solutions and hourly car rental services. These activities still require further refinement, yet they are exemplary in adapting to the market situation through creative thinking. The current leading European car dealers, who have already succeeded in cross-border markets, are expanding, adding new business streams (such as real estate, rental and leasing options, new car loans, financial services), expanding their geographic reach and adding new members to their network of partnerships .
It can be tiring and difficult to go through the offers of as many financial institutions as you can, even at home, but we can have the peace of mind if we have done our best to choose the best loan. Returning to outstanding defaults: Despite the decline, it still represents a large quarter of all registered.