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05-19-20

Coronavirus and Cars

Coronavirus and Cars

Coronavirus has created a complicated situation in the world. Since its outbreak in China last year, the threatening virus has been spread all across the globe. When it comes to analyzing the US data, as of April data, 30,000 more infections were reported on Tuesday. The growing number of fatalities has been creating an alarming situation, leaving the country in a severe condition. 

It is quite evident that everyone is feeling the consequences of Coronavirus. Whether it’s having to stay home and not be able to access common services or closing down all the shops and having no means to earn money, everyone is going through losses. Various industries have been shutting down due to the crisis. Coronavirus has surely affected the global economy deeply. 

 

How Is The Automotive Industry Being Affected?

It is certain that the automobile industry has been suffering grave losses due to the current pandemic. The manufacturing outlets of several brands have been shut down due to the lockdown. The sales have marginally plunged down as customers have a fear of going out and making a purchase. During this time of crisis, the automobile industry has come forward with different offers and relief for the customers. 

The prominent manufacturers in the industry have brought different programs to rekindle the sales and support the buying journey of the customers. During this time of crisis, all that manufacturers must think about is enhancing customer experience and providing them with necessary aids to complete the purchase. 

 

Right Time To Lease A Car

Many of the carmakers have introduced auto loan relief and payment relief on leasing the car. That means customers who want to buy a car during this time can get a payment relief. So, if you are looking to buy a new car or used car, now is the time to reap the benefits. 

Financial instability is one of the common concerns for customers these days, as many are losing their jobs and have no income source. Carmakers have made sure that they cater to the diverse requirements of the customers and encourage them to purchase cars. 

 

How Are Car Deals Being Affected By The Coronavirus?

Though the Coronavirus hit the world in December last year, it was at the beginning of January that things started to get worse. When it comes to a dramatic fall in car sales, everything began in March. The pandemic had begun to spread rapidly in the US, and the country was soon under the lockdown. Though carmakers had taken precautionary measures at the beginning of the year, they were certainly not ready for such drastic events. 

According to industry experts, the sales are going to get worse in April as well. Many prominent carmakers have found their way to sustain in this contingent market. Chevrolet is offering 0% finance deals, whereas Nissan has announced that they will be giving away three months of payment relief to their buyers. This way, carmakers are encouraging customers to come forward and reap the benefits that will eventually help in improving sales. 

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