- Faced with a dramatic drop in business, many dealerships have started providing customers with the possibility of conducting the entire vehicle purchasing process online
- Buyers can pick the car they want and even have it delivered for a test drive at their location
- The approach aligns with a growing automotive e-commerce trend, with consumers likely to purchase as many as 1.3 million vehicles annually online by 2035
- PowerBand’s cloud-based auto trading platform offers a convenient, efficient and safe option for buyers and dealers to buy, sell, lease and trade vehicles online, eliminating unnecessary middlemen
The coronavirus and technology have had the unexpected outcome of making the car buying process more efficient. Instead of browsing cars at a dealership, customers can find their dream car online and can complete the entire purchasing process online, from filling an application to requesting a car for a test drive to paying. This way of trading vehicles is fully in line with PowerBand Solutions Inc.’s (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) vision for automotive sales and purchases even before the pandemic hit – a streamlined interaction among participants without additional fees and unnecessary middlemen.
According to a recent McKinsey & Company report…
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