Women are increasingly in the driver’s seat when it comes to selecting and buying new vehicles, and will look for dealers who will cater to their specific needs, says a senior automobile executive.

In a mature, relatively flat North American auto market, women buyers “are one of the few growth opportunities,” added Tayce Wakefield, vice-president of corporate and environmental affairs at General Motors of Canada Ltd.

GM VP Tayce Wakefield

“Smart companies respond to women with the right combination of products and policies to truly engage women across all aspects of their business,” Wakefield told a business audience at the Calgary Chamber of Commerce last week, which was also marked around the world as International Women’s Week.

Statistics show that in Canada, women are buying about 35 per cent of all new vehicles. Young women buyers under the age of 30 are responsible for almost half of all new vehicles purchased, compared to just 22 per cent of women over the age of 55. But women of all ages still influence more than 80 per cent of all new vehicle purchase decisions. “This is an absolutely critical customer group,” she noted.

Dependability and value for money – not colour – are the two most important things women look for in a vehicle, Wakefield added. And because women’s wages still lag those of men, women tend to buy more small and mid-size cars than men.

Wakefield described how General Motors Canada is working to tap into the buying habits of its women customers and at the same time improve the working environment for the company’s female employees.

GM’s Women’s Advisory Council was formed in Canada 19 years ago to provide its women members with opportunities for networking and development, as well as helping the company develop women-friendly policies such as telecommuting and job sharing.

Making the workplace hospitable for one group of employees means enhancing the environment for all, Wakefield believes.

“One of the most important ways to understand your customer base is to have your internal workforce mirror your customers,” she said.

“AT GM, we understand that having a significant number of women and other minorities in our organization, across all functions and levels, provides us with the best insight into our diverse customers needs and desires,” said Wakefield. However, she admitted later that both women and minorities were still under-represented at both the dealership and executive levels in her company.

Wakefield also said that women who have advanced in corporations and have gained insight into how corporate strategies, policies and decisions are executed owe it to others to share their experiences through mentoring and assisting in the career development opportunities of other women.

“If we fail to share this knowledge and experience, then women employees will just become male clones rather than developing unique perspectives that they can bring to the organization,” she said.