What a crazy few weeks it's been. As a world, we're facing a global pandemic that is monopolizing the media and locking down our communities. As an industry, automotive companies are facing unique challenges and opportunities that could make or break their year.
Dealerships must go beyond a business-as-usual approach to deliver unparalleled, healthy experiences for their customers.
Manufacturers and their dealerships have seen this story before. In 2008, the automotive industry received massive bailouts because of the financial squeeze of the Great Recession in the U.S. With a "global recession" on the tip of some economists' tongues, it's time to consider major action.
We all know that during economic downturns, owners hold onto their vehicles longer and take better care of them vs. purchasing new. Dealerships also spend more time and attention caring for the pre-owned vehicles on their lot to ensure customers are enticed to buy used.
While no industry is recession-proof, the automotive industry has proved to be recession-resistant. If dealerships take steps to ensure customer health and happiness, they can weather the COVID-19 storm as well.午夜剧院