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Signs of Recovery for Auto Dealerships as Lockdown Restrictions Being to Ease

Signs of Recovery for Auto Dealerships as Lockdown Restrictions Being to Ease

 

 

Research and Markets has published a new article on the auto dealership market “Auto Dealerships Focus on Contactless Experience as Lockdown Restrictions Eased”

Demand for new vehicles has plummeted during the coronavirus outbreak but many in the industry are hopeful that as states begin to lift their lockdown restrictions the market will see signs of recovery. Due to lower demand the prices of used cars have plummeted during the COVID-19 pandemic and as a result of shutdowns many used car dealers are struggling to move vehicles. However, this is unlikely to last. The slow-down in the automotive manufacturing industry during COVID-19 is likely to result in a shortage of new cars available post COVID-19 which may lead to an increase in demand, and prices, for used vehicles.

With showrooms shut, many dealers have moved to online sales and some are offering a contactless experience to customers which can include online ordering, Zoom walkarounds to demonstrate the vehicle’s features and home delivery of vehicles for test drives. Autotrader recently launched its Home Dealer Services, a set of online tools to help dealers to provide a contactless experience. There has also been increased interest in existing online programs like Shop Click Drive from General Motors which allows customers to order a car online and collect it from a local dealer. COVID-19 is likely to have lasting effects on the way cars are sold in the future as customers who have got used to the convenience of online ordering may want to continue.

 

Writer: Globe Newwire

Published: 18 June, 2020

Source: Research and Markets

Photo Credit: Los Angeles Times

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