In these unprecedented times, it's clear that we're all testing the waters regarding what we can and can't do amid the socially-distanced society that’s come as a result of the coronavirus. The COVID-19 pandemic is making one thing about the automotive industry clear: the future is unpredictable.
Unpredictable, maybe, but without hope? Never. Automakers, car dealerships, and other businesses in the auto industry have a history of bouncing back strong. The automotive industry has proven itself again and again. What we need now is a plan to move forward.
Auto Industry Forecasters Predict Drastic Drop in Car Sales
Industry forecasters are all over the map on where sales numbers are going to land in the post-coronavirus pandemic days ahead. Here are some predictions:
One ALG study points to only 15 million new vehicle sales in 2020. This number is down from the 17.1 million new cars sold in 2019. Earlier in the year, Edmunds predicted that 2020 was on trend to match 2019 sales numbers.
Many in the industry were hopeful that things would be back to normal by the end of April. Now, there's uncertainty around when "normal" will be a possibility. If things continue the way they're going, ALG notes that we could see 2020 sales numbers down as much as 15% year-over-year.
On a similar note, J.D. Power has amended their new vehicle sales outlook to just over 12 million at the low-end. They also speculate that at the high-end, sales will be lucky to hit 14.8 million units this year.
Sales Concerns Amid Coronavirus Stay-at-Home Orders
It's no wonder prognosticators are checking in with such a wide variation in numbers – the COVID-19 situation has the status of many dealers' abilities to sell is in question all across the country.
Some states have deemed car sales essential, while others have halted the sale of vehicles altogether. Other states are allowing cars to be sold online, to essential workers only, or directing that only service centers are allowed to continue operating. So, the question becomes not only how you can sell the units sitting on your lot, but if you can sell them at all.
As Auto Credit Express is in a mutually-beneficial position with many dealerships around the country, it's vital to both our businesses to keep the hope alive, and do what we can to keep this amazing industry rolling along. If you're able to sell remotely, or are deemed an essential business in your state, let us know.
Helping Car Dealerships Stay Safe and Stay Selling
At Auto Credit Express, we're here to help you keep the prospect funnel open and car sales humming at your dealership. Our job is to prepare prospects for the process of car buying, and to verify their information, so that you can get as much business done in a safe and socially-distanced way.
As an award-winning lead-generation service, we've been serving dealers across the country for more than 20 years, and we're not stopping now. If you're able to sell and want more auto sales leads, give us a call. We want to help you increase your bottom line, so that the intra-pandemic sales slump doesn't hit so close to home.
To see how we can help your dealership even in these uncertain times, call us at 888-535-2277 or fill out our online contact form and we'll reach out to you.