Auto sales have been slowly bouncing back as COVID-19 restrictions are lifted across the country. For many auto dealers, they can see light at the end of the tunnel.
Auto Sales Nose Dive During First Quarter
The start of 2020 had many concerned with the widespread pandemic COVID-19. Many stayed-at-home and continued to live wondering when industry would open. Unfortunately, with those closures meant fewer people were working. When there were fewer people working, that meant less spending.
The auto industry was one of the hard-hit focal points for COVID-19. While many operations such as the Tesla plant were closed for indefinite amounts of time, dealers looked to move their expected inventory much sooner than anticipated. This was to a limited or no avail as many of the populace faced hardships while out of work.
Post COVID-19 Sales Move Forward
Since the restrictions have been lifted on multiple industries across the country, many are finding their way back to the office. This means more income will be obtained by residents who spent the past few months wondering when they will receive a paycheck. For others, it was just another day as they worked from home while still receiving payment.
For auto sellers, the closure was tough. While many were still looking to purchase a new car, auto sellers were having a hard time trying to get people in the door.
Now that the restrictions are being loosened, many auto dealers are seeing a sharp uptick in sales and potential buyers.
“We had a great sales weekend,” said Miller, the general manager for John Hine Mazda in Mission Valley. “We got our salespeople back just in the nick of time,”.
This comes when the dealership had to lay-off a good portion of its sales force in order to maintain the required structure to continue operations. Many of their sellers had to stay home due to COVID. The dealership had to sit and wait out the storm.