LotLinx Weekly News Vol. 110: It’s All Coming Back to AI Now
Back to work, back to sales, back to automotive advancements! Read about factory reopenings and how midsize pickups shot to the number one sales spot. Plus, Memorial Day predictions.
FROM WARDSAUTO: Midsize Pickups Auto Industry’s New MVPs
Retail sales have improved for six consecutive weeks with midsize pickups leading the recovering vehicle segments. Monthly sales are predicted to hit up to 1 million units after the standard end-of-May push, a 16% decline from pre-COVID predictions.
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FROM KELLEY BLUE BOOK: Top Car Deals May Not Last Much Longer
More than 20% of cars purchased in April were incentivized, leaving May with only 3.3 million units to start the month. As factories sputter open, supply levels are dwindling and Memorial Day may not come with the deals or wide array of inventory consumers expect.
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FROM THE NEW YORK TIMES: Autoworkers Are Returning as Carmakers Gradually Crank up Factories
North American automakers produced only 4,840 cars in the month of April, and factory closures put a pause on nearly 4% of the U.S. economy. The immediate success of the reopened industry depends heavily on the production capabilities of parts suppliers and our neighbors to the north and south.
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FROM BLOOMBERG: How the Coronavirus Will Change the Way We Buy Cars
Experts from across the industry sat down to hash out their predictions for online and socially-distant car sales, as well as what stays and what goes in the post-coronavirus future of automotive retailing.
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