Welcome to 2022, we wish you every success for the year ahead. As we move further into January, it is so important that your Dealerships has a plan in place for the year ahead.
We’re not going to lie, your dealership will face many challenges throughout 2022. But What will determine your dealerships success this year is the way that you plan and minimise the effects that those challenges have on your dealership.
Here are a few ways how Emirati Car Dealerships Can Grow in 2022.
Create New Goals & KPIs
It may seem obvious but, many Dealers in the UAE either continue the same goals and KPIs from the year before or even worse not have goals and KPIs at all.
If happen to be one of the dealerships that continue to use the same goals as the previous year – you need to rethink. The problem with continuing the same goals from the previous year is you will often find yourself in the same position from the year prior.
To start 2022 off on the right foot, it is so important that your dealership creates new Goals and KPIs. The benefit of having goals and KPIs is it motivates your staff to achieve something great in the new year.
Related Article: Why UAE Car Dealers MUST Track KPIs.
Complete a SWOT Analysis
A SWOT analysis is a written report that underlines your dealerships Strengths, Weaknesses, Opportunities and Threats. A SWOT analysis is used as a foundation to base your dealerships decisions on for the coming year.
Many Dealers in the UAE may only perform a SWOT analysis every few years but, with the UAE motor industry continuing to change, it is so important that you revisit this yearly.
Here is what your dealerships SWOT Analysis should cover.
Strengths
- What are your dealerships strengths?
- What are some of the things your dealership does well?
- What does your dealership do better than others?
Weaknesses
- What are some of your dealerships weaknesses?
- What areas of your dealership need improvement?
- What does your dealership need help with?
Opportunities
- What opportunities are available for your dealership?
- Is there a new market you would like to cater for?
- Do you want to hire more sales staff?
Threats
- What are the biggest threats to your dealership?
- What is the competition doing well?
- Is VAT going to be a problem?
Your SWOT analysis should give your dealership a clear direction of what you want to achieve for the year.
Performing a SWOT analysis can be completed within a few hours.
Related article: Reasons Why UAE Motor Dealerships Fail – How Your Dealership Can Avoid Them.
Understand your Dealerships Financials
Before you start investing in 2022 you will first need to understand your dealerships financial position.
You need to ensure you have enough funds to cover overheads dealerships need to have the right and put you in a position to achieve growth. It is also important that your dealership plans for any unforeseen events such as an economic downturn.
Related Article: How to Run a Used Car Dealership During a Pandemic.
Understand your Target Market
The way Emiratis buy cars is continuing to change. Years ago, many car buyers in the UAE would look for their next car physically at a motor dealership. Recent studies showed that in 2021 95% of Emirati Car Buyers used the internet to research for a car they want to buy instead of attending a dealership – highlighting the sudden shift.
To be successful in 2022, your dealership must understand your target market. Find out how they are finding their next car, understand what type of cars they are looking for and know how much they are willing to spend.
The better you know your target market – the better position your dealership will be in.
Related Article: What UAE Car Buyers look for in a Dealership.
Start the year off strong
It is so important that you have a strong start to the year. If your dealership doesn’t have a great first few months of 2022, you will find yourself playing catch up for the rest of the year.
To achieve your yearly sales projections and goals it’s so important that you have a great start to leverage momentum for the coming months.
Final Word,
2022 will present many challenges and opportunities for motor dealers in the UAE. What will determine your dealerships success is the way you plan and minimise the impacts that challenges will have on your dealership. Using the tips mentioned above, your dealership will go along way to having continued success throughout 2022.
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About EasyCars
EasyCars by Jeal is a UAE motor industry, cloud-based dealer management system that automates the buying and selling of motor vehicles in the UAE.
EasyCars includes everyday management features like Stock Management, Automated Advertising, VAT Calculations, Integrated Accounting, Website Listings and Business Reporting - all in the one central application.