By just about any measure, the automotive industry in the United States is thriving. Since 2010, sales have improved each year. While sales are robust, there are many aspects of the automotive industry that car buyers would like to change. At Elio Motors, we are in the process of building a company that we believe will alter the course of transportation. Throughout this process, we have heard from many future Elio owners who have expressed changes they would like to see in the industry. Today’s Momentum will look at a handful of these changes and how we will incorporate them into our business.
The vast majority of car buyers despise the process. Autotrader conducted a study that found less than 1% of consumers are content with the current car buying process. To improve the way Elio owners purchase their vehicle, we will make several significant changes. We plan on having Elio centers in the top 60 markets. When visiting an Elio store, visitors will feel an environment more reminiscent of a tech store than a car lot. Future buyers will have the choice of either using a kiosk or being walked through the process by a friendly, informative Elio Motors employee. Additionally, the base price is set, which means that our stores are haggle-free zones. Traditionally, the most painful part of the car buying process has been negotiating the price. For Elio Motors customers, the price will be the same for every customer, regardless of location, group or occupation etcetera as we have rolled all discounts into one low price for everyone.
Making an “Option” an Option
The term “option packages” is a bit of a misnomer. Automakers offer a package of available accessories; however, the customer cannot choose to remove or add certain options from the package, costing consumers hundreds of millions of dollars annually. For this reason, we will let our customers choose their options a la carte through our ePlus: My Elio, My Way program. Instead of having to settle on an extravagant and pricey option package, Elio customers will be able to select only the options they want. Additionally, Elio customers will be able to add additional options as their needs change and/or keep up with the latest technology as it is introduced by bringing their vehicles back to a retail center.
An Emphasis on Fuel Efficiency
Even during respites of exorbitant gas prices, Elio Motors and our customers would like to see an enduring emphasis on fuel efficiency. There are several reasons an emphasis on fuel economy is important. For one, a fuel-efficient vehicle saves drivers money during times of both high and low gas price. Additionally, fuel-efficiency shrinks our carbon footprint, reduces our dependency on foreign oil, and can help cut the trade deficit. Regardless of the reason, fuel-efficiency should be a constant emphasis in the automotive industry.
The automotive industry in the United States is vitally important to the economy and the creation of American jobs. While sales are strong, several important changes can be made to further improve the way the industry operates. Our vision is to implement changes that benefit our customers: a better buying process, an option program that saves customers, and a long-term emphasis on reducing carbon emissions and producing a green vehicle.