Coronavirus and Cars: What You Need to Know
The entire world has been affected by the ill effects of the coronavirus pandemic. Economies around the world have been disrupted, and the stock markets are going up and down in a very erratic manner. All this economic upheaval has harmed the car market. The only good news is that world economies are just starting to reopen. So, should you wait for the economy to restart or just go out and buy a car in these troubled times? Read on to know more about coronavirus and cars.
Lower Car Sales
The first thing that strikes you about coronavirus and cars is that the sales of new cars in April this year fell by as much as forty-five percent as compared to the same period the previous year. About 445, 600 fewer vehicles were sold in the US in April when compared to sales forecasts for the same period in 2019. Even in May this year, sales of new vehicles fell by 25 percent as compared to the same period last year.
A Silver Lining
There is a silver lining to these figures because sales in the last six weeks have ticked up, and all fifty states in the US are now allowed to sell new vehicles. All US markets are seeing an improvement in sales. The main buyers seem to be young people who have returned to the economy in bigger numbers as compared to the older population.
Buying a New Car?
If you wish to purchase a new vehicle and you have the money to pay for it, and you also hold a steady job, then there is nothing stopping you from finding a model that suits your needs. You only need to deal with the stay-at-home orders that do not allow dealers to operate normally. However, before buying a new vehicle, be sure not to risk your health or that of your family and others in your community.
Follow Medical Advice
So, make sure to follow medical advice from the authorities about interacting with other people and make sure you frequently wash your hands, maintain social distancing, and use other means to prevent the spread of the coronavirus.
Finally, as with buying a car in normal times, be sure to make smart choices. Car sales fell dramatically in March, and so you can expect automakers and dealers to work hard to get your business.
Now that you have made up your mind to shop for a new vehicle, go ahead and visit our dealership in Troy, NC, serving the cities of Southern Pines, Abermarle, and Asheboro. Also, check out Montgomery Motors, especially Montgomery Motors Troy, NC. A visit to the Montgomery Ford dealer will help you choose the best-suited vehicle for you.
The Montgomery Motors Ford Lincoln dealership in Troy, NC, is your one-stop destination to choose a new car in these troubled times.