Today on CBTNews.com for Friday, June 5th, 2020:
Subaru Dealer Adam Arens Talks About Changes at His Stores Due to COVID-19
On today’s show, we welcome back Adam Arens, Owner of Patriot Subaru. Adam and Jim talk about how his three dealerships are holding up, managing your team efficiently in tough times, how to make your employees and customers feel safe at your dealership, and more.
Major Purchases Surge, Showing Pandemic Recovery in Motion
Vehicle purchases in May 2020 were down from the previous year by a little more than 30 percent, but more than 1.1 million new cars made their way into customers’ driveways instead of going stale on dealership lots. Incentives like zero percent interest over terms as long as 84 months certainly aided carmakers in moving metal, as did aggressive cash rebates. Some popular models, particularly pickup trucks, have unexpectedly low inventory levels due to higher sales volumes. Read More
Industry Update: Most Automakers are Back to Work
Now that the more devastating stages of the COVID-19 pandemic are (hopefully) behind us, state and local governments are allowing businesses to get back up and running after being shuttered for months. This includes automakers, who had to shut their doors and manufacturing plants after the outbreak of the pandemic. All of them have put a huge effort into making their facilities safer for their employees by implementing various measures such as daily temperature taking, increased usage of masks and gloves, and extra sanitation. Understandably, auto sales have drastically dropped since the pandemic began, so automakers are eager to get back to work. Let’s take a look at where specific automakers are at this time. Read More
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