Coronavirus and Cars
Coronavirus and Cars
We would have never thought that staying at home could be such a challenging task, and that's exactly what Coronavirus has made us do. Coronavirus has spread its tentacles all around the globe and affected millions of lives in different ways. As a result, almost every country is following mass lockdown protocols and social distancing to reduce the spread of Coronavirus.
Everyone has been suffering from the crisis, whether it is fighting the disease from hospitals or homes. When it comes to the global economy, COVID-19 has put it in a severely weakened state. Entire industries are shutting down, people are losing jobs, sales are declining, and everything else has been disrupted by this pandemic.
Automotive Industry Losses
March is usually one of the busiest months of the year for the car industry. Unfortunately, that has not been the case this year.
At the end of March, the car industry started to shut down their production and witnessed a drastic fall in its sales. In the U.S. the car sales declined by 35% at the beginning of March and reached 59% by the end of the month.
Customers are not able to visit most showrooms due to mass lockdowns and social distancing. It is anticipated that customers will hesitate to make big purchases for the next few months. This poses a very large issue for the car industry.
How is the Automotive Industry Helping Customers?
The automotive industry is making every possible effort to boost their sales and set everything back on the right track. A majority of carmakers have moved their services online and asked their employees to provide services from home.
When it comes to enhancing customer experience, manufacturers have decided to offer payment relief to the customers who intend to buy/lease a car. Programs have been initiated by the manufacturers to enhance their sales and make purchasing easier for the customers in this time of difficulty.
Those who were planning on buying a car during this time of the year can still go ahead with their purchase and enjoy the benefits of a payment relief program to lessen their financial burden. A car is an important asset for people and buying during a crisis can be daunting, but if you have financial assistance, like payment relief or auto loan relief, you can get a great car at the perfect price.