As America makes plans to go back to work in a post-lockdown society, it will be the automotive industry that leads the way. This week, as dealerships reopen their doors and more than one-hundred thousand automotive factory workers return to their jobs, the country will keep its collective fingers crossed in hopes that the economy will bounce back quickly, and safely. With the industry’s ability to pivot with technology, digital tools, and a resilient workforce eager to do whatever it takes to survive (and thrive!), the outcome could be better than initially thought.
1 – What Dealers Can Do Today to Prepare For Post-COVID-19 World
Auto Remarketing: As dealers process the magnitude of the economic shutdown, businesses everywhere are planning their strategic return to the top. Dealerships must find a way to reduce inventory, generate cash, and provide flexibility to their teams.
2 – Return to Work Signals Auto Industry Recovery to Begin
CBT News: As of this week, dealers in hard-hit New York State are able to assist buyers with in-person sales consultations. As auto industry workers return to work, the most resilient workforce in America is ready and eager to begin the recovery.
3 – Cox: Rise of Digital Marketing
Go Auto News: A Cox Automotive report, “COVID-19 Consumer and Dealer Impact Study”, found 80% of US dealers were employing digital research as a business tool by April this year. More buyers prefer to complete some portion of their transaction online, and will likely continue to do so in the future.
4 – Auto Workers’ Tenuous Return a Ray of Hope in Jobs Crisis
ABC News: Tens of thousands of auto workers are returning to work this week hoping to counter the biggest wave of layoffs in US history. Will this have the much needed impact on states’ unemployment benefits?
5 – Final Step of Vehicle Purchase Going Digital for Good
Cox Auto News: Registration and titling are the most complex steps of the sales process for vehicles. But, with the social distancing restrictions in place for nearly 8 weeks in most states, big changes are taking place across the auto industry.
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