A study published by The National Highway Traffic Safety Administration found that up to 95 percent of vehicular accidents are caused by human error.
Inattention, excessive speed, and improper lookout are the top three major human factors that cause or contribute to car crashes – factors that can be prevented by Advanced Driver Assistance Systems (ADAS).
These systems are designed to provide drivers assistance in operating a vehicle safely and efficiently. Through the system’s advanced technologies, ADAS can help drivers control their speed, provide alerts of potential dangers or collisions, and enhance overall vehicle control, promoting a safe and enjoyable driving experience.
Below, Michael W. Ryan of Billings explores how advanced technologies and safety features influence consumer decisions when purchasing vehicles and how dealerships can leverage this trend.
Driving Change: The ADAS Impact on Consumer Choices
After the pandemic, consumer behavior has changed drastically, having an increased focus on health, wellness, and safety. These factors have become pivotal factors that impact their decisions when purchasing products and services, including vehicles.
Modern buyers prioritize modern cars – vehicles that are equipped with advanced technologies and up-to-date safety features like adaptive cruise control, blind spot detection systems, and autonomous emergency braking.
Smart technologies like smartphone connectivity, infotainment systems, and autonomous driving capabilities are also attractive features.
Today, drivers not only value a vehicle’s aesthetic but also the safety and overall driving experience that state-of-the-art technologies can offer.
Driving Sales: Strategies for Dealerships
Advanced Driver Assistance Systems, which is comprised of various safety features and modern technologies, impact car sales in the following ways:
Improved Safety Features
Vehicle safety is significantly improved with ADAS because of its various features, including:
- Adaptive Cruise Control: Through radars and sensors, the car is able to detect the speed of the vehicle in front and adjust its own speed accordingly, allowing for a safe and relaxing drive.
- Autonomous Emergency Braking: This feature utilizes cameras and sensors to detect a potential collision and take action to avoid it or reduce its severity.
- Lane Departure Warning Systems: This feature monitors markings on the road and sends out alerts when the vehicle veers out of its lane.
- Blind Spot Detection System: Detects vehicles in the blind spot through cameras and sensors and sends out a warning so that the driver avoids switching lanes when it’s not safe.
- Parking Assistance Systems: Provides drivers with guidance and alerts when backing into or out of parking spots.
- Traffic Sign Recognition: Detects speed limit signs and sends out an alert if the driver goes past it.
These features provide potential buyers with a heightened sense of confidence and safety on the road, making them more likely to buy a vehicle with such features.
Reduced Insurance Premium
More and more insurance providers today are offering discounts to drivers or owners of ADAS-equipped vehicles because of their lower accident risk. This is advantageous for dealers as they can use this financial incentive to attract potential buyers.
Bigger Resale Value
Automobiles integrated with ADAS are more likely to retain their high value in the used car market. This is attractive to potential buyers and they may be more inclined to make the investment as they anticipate higher trade-in or resale values.