Automakers in China, Europe, and the United States suspended plant operations, disrupting manufacturing, and client demand has waned as showrooms have closed and folks shelter at house. However, we believe many automotive buyers will proceed to want a brick and mortar expertise, preferring to kick the tires and check drive before shopping for. Dealerships will proceed to account for a overwhelming majority of automobiles offered globally in the course of the subsequent decade. Car gross sales have historically been a single, decentralised sales channel, i.e. automakers/importers promote automobiles to sellers, and sellers to consumers; COVID-19 is shifting a few of this dynamic towards digital. South Korea remains the business shiny spot because the nation continues to be successful in managing the pandemic domestically. Sales increased 8.3{3bfdc6388b67058ebf31f91cad8534fc6eadf969a34f41b0290e9edbf0628986} YoY in April, a second consecutive month of YoY progress. However, a current resurgence of some new coronavirus cases may be a growing concern.

Adam Lee, co-owner of Lee Auto Mall, stands in a sparsely occupied sales lot in South Portland. New vehicles are briefly supply due to the pandemic, and used car prices have shot upward by forty five percent. Across the nation, major news retailers have labeled this “the worst auto trade …