Auto Industry Down But Not Out… May See Post Coronavirus Surge!
When the Coronavirus crisis subsides there is an upside for the now frozen auto industry and consumers.
When officially imposed “stay at home” orders are eased, US car sales will skyrocket, with public transportation, airlines, and even ride-sharing becoming less popular, on fears of Coronavirus exposure and infection.
Slow selling small cars and traditional sedans … will be in demand again as those coming back to car ownership, seek practical, affordable, low cost vehicles.
Despite plummeting oil prices, this is an inflection point for Electrics, Hybrids and plug-in combos, which have gained less than 4% of US annual auto sales over 20 years. Sales will surge as car companies roll-out new electrified models which represent a capital investment of hundreds of billions.
And it will be a good time to buy as manufacturers and dealers scramble to clear backlogged inventory with generous financing offers.
The best way to negotiate for significant discounts on the actual vehicle price is to arrange a car loan with your own bank or credit union and then go to the dealership as a “cash buyer!” You’ll save thousands off the sticker price.