Car Market Shifting As More Work, Shop From Home For those dealers not in the premium luxury end of the market, wouldn’t it make sense to investigate the marketing, technologies and new ways of securing business in the subprime, deep subprime and first-time buyer side of the business?
What unexpected turns 2020 had for automotive retailers.
We went from business as usual in the first few months to a truly desperate time during the early days of the pandemic with lockdowns, stay-at-home rules and lack of production.
Then, to boom times in the third and fourth quarters, where the combination of vehicle production gaps that created shortages and higher gross margins for both new and used vehicles, the migration away from public transportation and ride- or car-sharing-stimulated private car ownership, and more cash in a lot of folks’ pockets (due to forced savings by not going out), created a perfect positive storm for most dealers’ bottom lines.