Don’t be afraid to dive right into these automotive advancements. Shoppers are headed back to dealerships and manufacturers are getting back to pre-COVID levels. Plus, read about the highs and lows dealers are facing at auction.
FROM BLOOMBERG: Americans Return to Car Dealers, Thwarting Expected Shift Online
At the end of May, 81% of franchised dealers had some version of online retailing in place. Despite these efforts, store foot traffic continues to increase as stay-at-home orders are lifted, with groups such as baby-boomers committed to the in-person shopping experience.
FROM WARDSAUTO: Ford, GM Nearing Pre-COVID Output Levels
Major manufacturers predict they’ll be turning out pre-COVID supply levels by late June or early July. But, SUV and F-150 redesigns and new-model rollouts might put a pin in the ramped up production schedule.
FROM CBT NEWS: Industry Surprised at Pace of Pandemic Recovery in Automotive
After a nearly 50% sales plummet in March and April, many reporting OEMs are now pacing only a few percentage points below last year’s numbers. Analysts are feeling confident in the months to come as production reaches near-normal levels and dealership traffic returns.
FROM AUTO REMARKETING: COVID-19 Intensifying Gap Between Auction Supply, Dealer Demand
While auctions are hot with bidding activity, quality supply remains low. Wholesale values have risen nearly 0.88% week over week across car segments, continuing to weigh on dealer margins.