Today on CBTNews.com – Tuesday, April 28th, 2020:
Sandy Schwartz, CEO of Cox Automotive, Talks About COVID-19 and its Impact in Retail Automotive
On today’s show, we continue our ongoing Coronavirus Coverage by speaking with Sandy Schwartz, CEO of Cox Automotive. Jim and Sandy discuss what Cox is doing in response to COVID-19, the future of auto retail, and more.
What Effect the USMCA Will Have on the Automotive Sector
The United States has ratified the United States-Mexico-Canada Agreement on April 24th and has notified its trade partners in the agreement. That makes way for the USMCA to go into effect on July 1st, 2020, according to U.S. Trade Representative Robert Lighthizer. It comes at a crucial time for the American economy. Virtually all industries have experienced a significant downturn, putting the nation in crisis mode. Lighthizer puts stock in the USMCA to facilitate recovery efforts. Read More
Unleash Your BDC to Capture Pent Up Demand
The auto industry has suffered a big blow in the last month. NADA has revised its new light-vehicle sales from the original forecast of 16.8 million units in 2020, down to 13 million units for the year. Ouch. But just because vehicle sales have decreased, doesn’t mean there isn’t demand. People who were planning to buy a new vehicle a month ago are still thinking about it. According to J.D. Power, leases on 1.8 million vehicles are set to expire between March and July. That’s an opportunity. The desire for new vehicles still exists. What is your dealership’s plan to capture this pent-up demand? Read More
Did you enjoy this segment? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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