How Women are Influencing Automotive

It’s no secret that the number of men in automotive outnumber women. Whilst the number of women has increased steadily over the years, only 27% of automotive professionals are female.

Whilst this statistic may seem trivial to many, we get under the bonnet to look at how the U.S. market purchases cars and why, actually, this figure is quite alarming.

Women directly influence 85% of all car buying decisions

In most U.S. households, it’s the women who make luxury purchase decisions, or are at least a key influence on the sale. Women buy 62 percent of all new cars sold in the U.S. and influence more than 85 percent of all car purchases. That’s right; Wives, girlfriends, sisters, daughters and even grandmas are informing the very majority of car purchasing decisions. The name on the credit card doesn’t tell the whole story.

43% of women don’t trust the automotive industry

Whilst more women are buying cars, that doesn’t mean they always enjoy the process and look forward to a trip to their local dealership. In fact, 43% of women don’t trust the automotive industry. Offering honest advice and guidance is key. Millennials, both male and female, are more likely to be deterred from pushy sales tactics.

Women take an average of 75 days to make a purchase

Whilst men take an average of 65 days to purchase a car, women will take around 10 days longer. Women also tend to have higher expectations when it comes to good customer service. Keeping the conversation going between dealer and customer can really support in the decision-making process.

How can your dealership spark change?

The common challenges faced by women don’t deter them from aspiring growth in their careers. When asked about their ultimate career goals, 41% of women revealed that they aim to work in a senior management position, in the future.

There are a variety of factors that must come together to help women achieve their career goals. Encourage women to pursue their career ambitions early and often. Senior management should find new ways to encourage women in the workplace, through mentoring, creating career progression plans and offering a good work/life balance. A more balanced gender dynamic can really shape the way your dealership communicates with its customers, whilst positively impacting sales.

Sources:

https://www2.deloitte.com/us/en/insights/industry/automotive/women-in-automotive-sector-gender-diversity.html

https://www.cjponyparts.com/resources/men-vs-women-car-buying

http://www2.cdkglobal.com/2017-year-end#sm.00001cmr07dnujfi3qjfttj37mhi7

https://www.bloomberg.com/company/stories/top-10-things-everyone-know-women-consumers/