AFTER closing in March to adhere to the government’s coronavirus guidelines, automotive showrooms across the UK reopened their doors to the public earlier this month.
However, with 71% of British public saying they’re scared to leave the house* and with car manufacturers around the UK launching virtual showrooms, automotive cryptocurrency trading platform, AutoCoinCars, predict that trawling the forecourt’s will soon become a thing of the past.
In order to work safely, car showrooms must ensure that they’re operating in compliance with strict COVID-19 health and safety standards, as well as displaying a health and safety confirmation certificate on-site at all times.
Luke Willmott, operations director at AutoCoinCars says that while it is encouraging to see the UK automotive market starting up again, these safety measures will ultimately lead shoppers to online sales platforms.
Luke said: “These guidelines have meant that showrooms have had to adapt their way of working particularly in how they interact with their customers – including maintaining social distancing protocols at all times and discussing purchasing information with would-be customers via FaceTime, Skype or WhatsApp.
“While it is a step in the right direction for the industry and it is encouraging to see the market re-opening following a difficult quarter, there are still overarching uncertainties as to whether the general public will feel that it is safe enough to return to showrooms and dealerships.
“Due to the impact of COVID-19, fewer than 4,500 cars were sold in April – a significant drop of 97.3% compared to April 2019. Undoubtedly, the primary reason behind these shocking statistics is people have not been able to physically visit showrooms and test out cars for themselves. However, with a large proportion of the UK public still worried about leaving their home, we can expect to see a big shift in the industry as consumers move to online trading platforms to make their next purchase.”
Unlike traditional methods of automotive trading, AutoCoinCars saw a 1000% increase in sales between January and April of this year. The platform also recently announced significant partnerships with some of the UK’s most renowned car dealers, including Redline Specialist Cars, Saxton4x4 and Benz Bavarian, demonstrating the clear demand for online car trading platforms.
Initially founded in 2019 by cryptocurrency expert Mustansar Iqbal, AutoCoinCars provides innovative solutions to enable car dealers to sell their vehicles to previously unavailable markets – and for consumers to not only buy cars of all values but also transfer their cryptocurrency into assets.
Luke added: “AutoCoinCars’ performance within the first half of the year is a clear example of how we can expect to see the market transform in the future. Not only can we expect to see the industry move away from traditional showrooms and forecourts – the rise of cryptocurrency to purchase cars is another trend set to revolutionise the industry.
“Cryptocurrency is expected to become stronger as it operates globally at a time when most nations have closed their borders and are facing an economy seriously impacted by the COVID-19 crisis. With five million people across the UK already using cryptocurrencies, it is clear to see that the future of automotive trading is through these alternative payment solutions.”