Dealers

“The dealership world is crazy now,” says Podium’s Jordan Reid during an American International Automobile Dealers Assn. online event.

ALG says its most-likely scenario is U.S. new light-vehicle sales of about 12.6 million for 2020, down from a pre-pandemic estimate of 16.9 million. Its optimistic scenario is for 13.1 million deliveries.

Chief operating officer Chris Holzshu says Lithia is reducing its advertising spend 20% to 30% and reducing head count about 40% by eliminating some positions and putting others on furlough, in hopes of hiring them back.

Car dealers “are reluctant to add replacement vehicles to their inventory,” says J.D. Power’s Jonathan Banks.

Setting used-car values in an upside-down market isn’t easy, says vAuto’s Patrick Janes.

Post-pandemic, “it’s going to be crucial dealers don’t overstock, but they do need to work their inventory flow smartly,” says Jasen Rice of Lotpop.

In a Wards Q&A, EFG Companies CEO John Pappanastos talks about a program designed to ease car-consumer anxiety during tough times.

In the comfort of their home, consumers can learn the benefits of finance and insurance products.

“Things are looking up,” says J.D. Power’s Tyson Jominy, pointing to three straight weeks of improved sales this month.

In a downturn, taking bold action and using resources creatively can blunt some of the negative impact.