By Nathan Cooper
The automotive aftersales market in the UK and Europe presents a significant revenue opportunity for dealerships and service centres.
According to a report by Frost & Sullivan, the European automotive aftersales market, which includes Service, Maintenance and eVHC services, was estimated to be worth around €413 billion in 2020. In the UK, in 2021 it was worth £28 billion (source SMMT). A considerable opportunity for retailers to tap into.
What does eVHC deliver?
eVHC technology enables dealerships to perform digital vehicle inspections, diagnose issues, and provide customers with a detailed report of the vehicle’s condition. This technology can provide several benefits to dealerships and service centres, including:
- Improved customer satisfaction: By using eVHC technology, dealerships and service centres can provide customers with a more comprehensive and transparent inspection report. This can improve customer satisfaction and build trust, leading to increased loyalty and repeat business. This is further enhanced when using media services (video/photography) as part of the process as well, with conversion levels increasing by over 5% when included as part of the customer authorisation communication’s, compared the authorisations without media attached.
- Increased efficiency: eVHC technology can help streamline the inspection process and reduce the time and resources required for manual inspections. This can lead to increased efficiency and productivity for the dealership, enabling them to serve more customers and increase revenue. Where fully digital processes are in place across an aftersales team, we have seen technician efficiency increase by over 8% and non productive hours reduced by a massive 35% from the use of eVHC and connected digital processes.
- Enhanced revenue streams: eVHC technology can help dealerships identify and diagnose more issues with the vehicle, leading to increased revenue from repairs and maintenance services. In 2022 alone users of the REALtime Communications eVHC platform identified over £1.4 billion in Red and Amber repair opportunities, with aftersales teams generating millions in additional revenue as a result.
- Competitive advantage: Dealerships that adopt eVHC technology can differentiate themselves from competitors and position themselves as leaders in the market, attracting new customers and retaining existing ones as trust and confidence is built between the brand and the customer through transparent working practices.
Overall, the adoption and continue use of eVHC technology presents a significant opportunity for dealerships and service centres. By providing a higher level of service to customers, increasing efficiency and productivity, and enhancing revenue streams, dealerships can position themselves for success in the rapidly evolving automotive aftersales market.
For more information on how REALtime Communications can support your eVHC process contact us today.