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REQUIRED ESSAY (Minimum 1200 words)
The used motor vehicle industry is evolving based on advancements in technology and how consumers are using these innovations, specifically millennials. Used motor vehicle dealers are adapting to changes in advertising, customer tracking, use of mobile technology, trust and transparency in the sales cycle, social media, and much more. Additionally, the evolution of ride hailing services, rental and subscription based transportation, ride sharing and autonomous vehicles offer alternatives to traditional vehicle ownership. As millennials enter the workforce, they are forcing innovation and influencing conventional dealership operations by affecting the idea of what future transportation might look like.
Explain in detail how you believe the growing popularity in alternative transportation models mentioned above will affect vehicle ownership in the future and how the used motor vehicle industry can leverage advancements in technology to stay ahead of these changes and meet customer demands. What evidence is there to suggest and support your theory? Please conclude your essay by specifically sharing your interest in the automotive industry and the role you wish play in it.
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