Is your business facing similar challenges to the automotive industry?
The automotive industry has been facing unprecedented challenges since COVID.
Between late 2021 and 2023, sales were relatively easy, and then things changed. There was a shortage of stock, so the need to discount was minimal. Now that the market has returned to the “new” normal, the supply of cars is no longer an issue, but other complex problems are still affecting this sector.
Namely, they come from three areas:
I would say all of these factors are creating pressure that many businesses are struggling to deal with successfully. The factor that influences how the dealership and its people handle these challenges is their attitudes and behaviours.
I have been training the team at Lexus and Mikkel for a while now. He saw the writing on the wall, and his team is better prepared to deal with changing consumer buying patterns, have a heightened understanding of Emotional Intelligence, and are better equipped to handle pressure when meeting sales targets.
Most people have a basic understanding of what mindset actually is, as they often think it’s about resilience, but it’s much more.
Simply put, think of it as people who are either operating with a Fixed Mindset or a Growth Mindset.
How many times do you hear someone say, “I’ve been around for a while now and I’ve seen it before; you just have to work hard and stay positive”?
