Recently, Isabelle Helms, Cox Automotive VP of Marketing Intelligence and Jonathan Smoke, Cox Automotive Chief Economist, presented an in-depth webinar for lenders outlining current economic and market movement, trends and KPIs, as well as dealer and consumer sentiment.
The topics they explored included:
- Embracing A “New Normal” – What research says about how consumers have been affected by COVID-19.
- An 80% Economy – What to expect from the U.S. economy while COVID persists.
- Low Income Households Most Affected – The impact on the financial situation of households at various income levels.
- Credit Will Deteriorate – The current numbers on household income, spending, delinquency rates, consumer interest rates and new vehicle affordability.
- Widespread Dealer Disparity – The differing impacts of the crisis on franchise and independent dealerships.
- Location Matters – A look at how local markets vary in COVID spread, unemployment, consumer sentiment and auto sales.
- Transforming Dealership Operations – Consumer demand for more technology-driven solutions for purchasing vehicles.
- Inventory is Lacking – Where new and used inventory currently stand.
- Impact on Consumer Mobility – The affect of the pandemic on shared mobility services, consumers driving their personal vehicle, and consumer purchase intent.
- The Worst is Behind Us – Cox Automotive 2021 sales and vehicle value forecasts
We invite to view the recorded webinar to help you gain insights to finish out 2020 and prepare for 2021.