Automotive advancements are in bloom. Discounts, pickup sales, and a big return to auction have dealers excited for the weeks to come.
FROM WALL STREET JOURNAL: U.S. Auto Sales Plunged in April, but Signs of Hope Are Seen
Even with April sales declines at 40-50%, the industry feels positive about the pace last month set. After seeing online sales account for a large portion of OEM and dealership business, signs point to major demand waiting post-shutdown.
FROM REUTERS: Discounts May Help Cure U.S. Auto Market’s Coronavirus Hangover
Both dealers and automakers are looking toward unprecedented incentives and zero-interest loans to generate demand and cash flow on their lingering inventory. Others are banking on government stimulus to help combat the predicted 25% decrease in yearly sales.
FROM BLOOMBERG: Pickup Trucks Outsell Sedans in U.S. for the First Time Ever
Pickups shined in April, outselling their car competitors by over 17K units. The models made up 40% of the Detroit Three’s monthly sales, thanks to deliveries focused in middle-America and states less impacted by shutdowns.
FROM AUTO REMARKETING: Managers Slowly Move From Just Auction Watchers to Bidders & Buyers
While many used-car managers have been tuning in to online auctions throughout the pandemic, this week, everyone’s getting back to bidding and buying. However, inventory uncertainties are still causing steady price decreases of around 1.30% per week.