industry

The Coronavirus has traveled long and far to make it to the U.S. and wreak havoc on many things. Aside from the abrupt increase in hospital stays and unfortunate deaths, this virus also has obviously affected the economy and the automotive industry.

The problems started in China where many manufacturing plants have been shut down since early this year with no production in motion. The risks were too high to have sick workers come in, masked or not, so things came to a fast halt.

As Millenials and Gen Z become the newest, largest consumer group, dealerships are beginning to rethink the way they do sales. These younger generations aren’t loyal to brands. They choose cars based on quality, reviews, technology and customer service. Because they do their research, it’s important to put your best price out there. Be transparent about the price and the vehicle to build trust.

At the end of 2017, Automotive News wrote an article about its predictions for the automotive industry in 2018. We thought it would be fun to see how close they got with these predictions, so let’s take a look to see how they played out.