Bill Wade on automotive industry
From HD Cast talks with industry expert Bill Wade · · CVSN
“It's kind of like in the automotive side, if you remember the day when it was always this muffler shop or it was a tire shop, now they can't survive just on mufflers or brakes or tires. So now it's full service or complete auto care, so they have had to expand.”
On , Bill Wade, EVice President & Chief Information Officer at INDEPENDENT BK GRP INC, spoke about automotive industry during HD Cast talks with industry expert Bill Wade on CVSN.
About Bill Wade
In a September 2020 interview on HD Cast, Bill Wade discussed trends in the automotive parts distribution industry. Wade observed that distributors are increasingly recognizing the value of adding service to their business, stating that selling parts alone is not very profitable but that installing parts in one's own garage can generate significant revenue. He also noted a reversal of roles, with dealers opening independent parts stores while aftermarket shops expand into full-service auto care. Wade addressed the impact of e-commerce, arguing that businesses that avoid selling on the internet are missing substantial opportunities. He described what he called the "Amazon effect," saying that online retailers have trained purchasers to expect next-morning delivery with prepaid shipping. Wade also highlighted growth in light truck accessories, mentioning a distributor he works with that generates about 70 million dollars in parts sales, with 20 percent coming from walk-in business in that category.