Ever since 1886, when Karl Benz built the first practical automobile, the automotive industry has been on the rise. In 2019 alone, people bought over 50 million new and used cars and trucks in the United States. It’s a multi-billion dollar industry that employs over 2 million people in the U.S.
The automotive industry has seen lulls. However, the Great Recession showed us just how essential the automotive industry is when the government issued over $17 billion in bailout funds to save it. The reasoning behind the massive bailout was that the industry is too big and essential to fail. If you’re considering going into the automotive industry, you’re making a wise choice. Continue reading to find out why.
Automobiles will sell for as long as people need to get around.
Some inventions go obsolete over time, but the auto industry isn’t one of them. As you read in the introduction, people in the U.S. bought over 50 million vehicles in 2019 alone.
There are over 18,000 car dealerships in the United States, and it’s rare to hear about a car dealer going out of business. When’s the last time you rode past a dealership and saw a sign that read “Going out of Business Sale,”? You probably never have. With that being said, if you’re an entrepreneur and a motorhead, opening your own used car or new car dealership is a wise business decision.
If you don’t have much capital for your initial investment, you should start small. As long as you have a dealer’s license and enough room to park a few vehicles, you have what it takes to open a used car dealership.
The best thing about selling used cars is that used cars cost a fraction of new car prices. At auto auctions, you can get cars at or below wholesale value, meaning you can sell cars at discount prices and still turn a profit.
With COVID-19, there probably aren’t many on-premise auto auctions taking place, but car auction sites like Auto Auction Mall are the best way to stock your inventory right now. They offer some of the best prices you’ll find, and they have live auctions where you can place bids and try to get used cars at the lowest possible price.
Cars will always need maintenance and repair.
The car industry isn’t exclusive to entrepreneurs. Even if you have no desire to run your own car dealership, there are plenty of opportunities for car enthusiasts.
One certain thing is that as long as there are cars, there will be auto technicians. Diesel mechanics have job security like no other. With the preventative maintenance diesel trucks need and the fact that their engines are larger and more complex, there aren’t many drivers willing to work on their own trucks.
Truck mechanics are among the foremost technicians in the auto industry. Additionally, with the way automotive technology evolves every few years, skilled technicians are one of the most integral cogs in the auto industry. With a certification from an automotive and diesel technology program, your career prospects will be as bright as the sun itself.
Furthermore, after a few years as an auto or diesel mechanic, you might be ready to open your own garage. People in the U.S. spend billions every year on auto maintenance and repairs, so why not get your slice of that massive pie?
The automotive industry offers plenty of opportunities for advancement.
One of the greatest things about the auto industry is that it offers plenty of opportunities to advance your career in the auto industry. Your ceiling is set only by the level of your desire to succeed within the industry. There are plenty of stories about people who went from washing cars at dealerships to running that same dealership or owning their own dealership.
People in the auto industry tend to be people who genuinely love cars, meaning you’ll get to spend your days around others who share your passion. Plus, being in the auto industry gives you insight into what the coming trends are in automobiles and the industry in general.
You have an opportunity to learn skills that will help you on other career paths.
Even if you don’t consider the auto industry the career choice for you, you can learn skills that will help you in other endeavors as well. For instance, being an auto salesman is a chance to work on your communication skills, develop initiative, and of course, develop salesmanship skills.
If you work at a dealership like the Ganley Honda dealership in North Olmsted, OH, where they make customer service their top priority, you’ll get valuable skills on how to relate to customers. Also, if you plan to someday go into business for yourself, the skills you gain there will help you provide your future patrons with an optimal customer experience. You’ll also learn how to use marketing to grow your customer base.
As you can see, the auto industry offers boundless opportunities. So, grab your career by the horns, or the steering wheel, and ride the road to success!