In a rush to get older cars off the lots before the year comes to an end, auto dealers have been rolling out payment holiday and discounts, to woo potential buyers.
The month of November usually marks the beginning of a busy Christmas season for car dealers who cut discount deals on older vehicles to get inventory moving. But now,a at the second week in December, car sales are down 70 per cent compared to 2019 levels, largely as a result of the economic fallout from the COVID-19 pandemic.
The changes in the market are forcing car dealers to get more creative in how they attract buyers, and have sparked new partnerships with banks and other lenders.