Coronavirus And Cars
The spread of Coronavirus (COVID-19) that originated from the Wuhan City of China is currently disrupting the balance in the world. Almost every country is now under the wrath of Coronavirus and has been struggling to come out safe and healthy. Coronavirus and its consequences have affected every industry to some extent. With the instructions to follow the social distancing, industries that involve customer interaction are currently suffering huge losses.
The novel Coronavirus started to affect China in December 2019, and over the span of three months, it almost covered the entire globe. As mentioned earlier, nearly every industry has been suffering the losses due to the Coronavirus outbreak, and the automobile is one among those industries that are trying hard to keep things at bay. Throughout January and February, the automobile manufacturers were taking precautionary measures and creating a contingency plan during the emergency.
They were assembling the vehicles and making the manufacturing function. But, it was at the beginning of March where everything took a severe turn. As you had witnessed, March was packed with news related Coronavirus and how it is affecting the US. Gradually, the automobile industry had to cancel all its important events starting with the 2020 Geneva Motor Show, which was scheduled to happen on March 05.
How Has Coronavirus Affected The Car Industry?
When it comes to gauging the intensity of the Novel Coronavirus on the automobile industry, you would be shocked to know the numbers. According to reports, the automotive industry has lost $2 billion in revenue in the month of March. It is quite evident that the manufacturing has come to a standstill as the factories have to be kept shut down, thus affecting the sales of the company.
Automotive industry people are quoting that even if there’s an improvement in the situation, it will take at least six months to get back to the tracks.
How Are Carmakers Making Things Easier For Customers?
In this concerning time, carmakers have been approaching customers with offers and discounts to support their buying. Events are unravelling at a rapid pace, and it has become imperative to follow social distancing. Hence, car dealers are in a constant dilemma about whether to keep their doors open or shut.
Many prominent car manufacturers have come forward with their offers to the customers. Customers who are having trouble making car payments are given payment relief to promote sales. Those who are having difficulty in car insurance can avail the services of auto loan relief during the Coronavirus.
Should You Buy A Car Right Now?
It is true that people are hesitating to purchase a new car during this crisis. But the fear of the pandemic shouldn’t restrict you from getting the car of your dream. Car manufacturers and dealers are making all the possible efforts to make the buying experience more streamlined.
The car sales plunged down from the beginning of March, but the manufacturers have made sure to come up with payment relief to rekindle the sales. So, if you are planning to buy a car, you must come forward and reap the benefits of payment relief and other offers from the manufacturers.
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