Our dealership services team has compiled articles and resources to help businesses find the needed information to assist them in navigating the COVID-19 crisis.
Automotive, boat, and RV dealership owners have been thrust into the great unknown amid the extraordinary amount of disruption caused by the global outbreak of the Coronavirus Disease. To assist in navigating these turbulent times, our team of dealership experts have created and compiled several resources to help you tackle these challenges while continuing to meet the needs of your customers.
Black Book: COVID-19 Markets Updates
Black Book recently published an update to their COVID-19 Market Updates, which includes: current wholesale prices & price trends, used wholesale price trends & projections, a look at the retail vertical, new vehicle sales outlook, and used vehicle supply projections. read on
Amidst Cost-Cutting, Dealers Do Make More With Less as COVID Leaves Indelible Mark on How Cars are Bought & Sold
What the pandemic has taught the auto industry is that the shift to digital is imperative, and it needs to happen now. read on
How COVID-19 changed dealership messaging
In recent conversations I’ve had with dealership leaders, several noted they were on track early this year to have strong sales before the coronavirus threw them off course. read on
BLACK BOOK: COVID-19 Market Update
With expected downsizing of the fleets, the used values in this segment will experience strong headwinds in the next several months. We project that wholesale values in this segment will be at least 10% lower than pre-COVID-19 projections for the rest of 2020. read on
One dealer’s take on the future of auto retailing
Business is anything but usual at Todd Caputo’s Sun Auto Group in upstate New York. He has shuttered showrooms to protect employees amid the pandemic and is now selling hundreds of vehicles online to local and out-of-state customers with a fraction of his work force. The results have Caputo questioning if the auto retail sector will ever return to pre-coronavirus ways. read on
Expert Advice for F&I During COVID-19
As a result of the coronavirus pandemic, the automotive industry has seen an unprecedented loss in sales over the past few months and F&I departments are facing serious challenges amidst these losses. F&I spoke with five leaders in F&I training: Rick McCormick, Reahard & Associates national account development manager; John Tabar, vice president of training at United Development Systems – Brown and Brown Dealer Services; Dwayne Wiggins, American Financial & Automotive Services’ (AFAS) FIU development manager; M. Ritchey Wheeler, vice president of training at AFAS; and Trent White, AFAS Automotive Training Academy (ATA) development manager. These experts shared their thoughts, advice, and predictions on what to do today to help prepare for tomorrow. read on
Biggest US Car Dealer Declares Recovery Underway
AutoNation Inc., the biggest car dealership chain in the U.S., said consumers’ desire to travel again and do so in their own personal space is driving the industry’s rebound from the coronavirus pandemic. read on
U.S. Set to Grant Automakers a Lifeline, But No Bailout
The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry’s rescue for the second time in a dozen years. Automakers are fearful of being tagged as seeking a new government bailout so soon after the 2009 government-funded auto restructurings. Detroit has not sought industry-specific assistance and instead made the case the entire economy needs urgent access to liquidity. read on
The Importance O’Regan’s Auto Group is Placing on Digital Retailing Tools During the Coronavirus – David Kain & Scott Dexter.
NIADA Calls on SBA to Open PPP to BHPH Dealers’ Related Finance Companies
The National Independent Automobile Dealers Association is calling on Congress and the Small Business Administration to open up the SBA’s Paycheck Protection Program to the related finance companies of Buy Here-Pay Here dealers – an important sector of the used vehicle industry … read on
How Auto Dealerships Can Compete in a Changing Market
The challenges facing auto dealerships today are driven largely by changes in consumer habits. Rather than visiting showrooms on weekends, more prospective buyers are beginning their customer journey online. Furthermore, urban-based Millennial’s and members of Generation Z are postponing their first car purchase, which is a major expenditure, until later in life, preferring to rely on public transportation and ride-hailing services … read on
How Dealerships Can Continue Driving Sales During the Coronavirus
Regardless of what is fact VS. what is fear, there are still A LOT of people who simply aren’t going to public places due to the COVID-19 (aka Coronavirus). It’s important for dealerships and local businesses alike to have messaging and plans in place to continue operations, while still staying safe and preventing the impact of this virus. …read on
How Care Dealers Can Survive During the Coronavirus Outbreak
The coronavirus outbreak has already had a drastic impact on our entire way of life. By nearly all accounts, things are likely to get worse before they get better. This extends to a crucial part of the global economy: Car manufacturing and car buying. Many buyers are likely to drop out of the market completely or put their purchases on hold. And this means the dealers who want to get through this mess and save their businesses may have to make changes both short-term and permanent—to close deals. …read on
Automakers Create Coronavirus Care Payment Plan & Programs in Bid to Boost Flagging Sales
In a swift response to the economic uncertainty fueled by the coronavirus pandemic, automakers are scrambling to offer car payment programs to help those whose paychecks are threatened by the outbreak. Many carmakers are also creating special coronavirus car deals to persuade consumers that now is a good time to buy a vehicle. g … read on
We have created this resource center as a central way to keep you informed of the steps we are taking at this time, and offer you some additional resources and information to help your organization during these difficult times. Our team at blum will stay focused on answering your most pressing questions regarding your business including updates on HR policies, tax deadlines, SBA loan availability, cyber and internal controls, productivity and efficiency, work at home capabilities and security, business modeling and more. In addition, we will continue to provide timely updates as federal and state officials provide guidance and enact measures.