Topic: new cars

New and used vehicle inventory drying up due to COVID-19

Posted by George Augustaitis on June 18, 2020

As dealerships were forced to shut down their showrooms, auction lanes closed, jobless claims peaked, and car sales fell off a cliff in April, the industry was laser-focused on consumer demand. Fortunately, May brought incentives, stimulus checks, and pent-up demand, which drove consumers back to dealership lots. However, because inventory has not been replenished, the industry’s problem has shifted from demand to supply.

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Topics: covid-19, inventory acquisition, inventory sourcing, new cars, used cars