NH auto dealers retool the buying experience during pandemic
By Patrick O'Grady
NH Business Review
‘We have already done a lot online, so transition has not been that bad,’ says Duane Coute, general manager of Littleton Chevrolet, about the dealership’s switch to digital transactions.
What started out as a promising year, with Edmunds 2020 Automotive Industry Trends Report forecasting a sixth straight year of U.S. auto sales topping $17 billion, quickly soured with the coronavirus.
Millions have lost their jobs, and stay-at-home orders as well as social distancing guidelines have brought the traditional face-to-face transaction most car buyers expect to a screeching halt.
Edmunds’ analysts said April would be the worst month in 30 years for auto sales, with a nearly 53% projected decrease compared to April 2019. And annual sales could fall 26%, to 12.5 million vehicles, although some forecasts of annualized sales show it tumbling to as low as 7.5 million, which would be the lowest sales pace in more than 40 years.
Definitive April numbers were not immediately available.
A survey conducted in April by the New Hampshire Automobile Dealers Association found that 70% of respondents reported a decrease in sales in late March and early April, with only 6% seeing an increase. The survey also found that 30% of dealerships indicated they could fail within two months if nothing changes.
‘Here to stay’
But New Hampshire dealerships are not throwing in the towel on the year or just waiting for everything to return to pre-coronavirus business practices.
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