We Have Good News Coming
The automotive industry took a major hit with the Coronavirus pandemic, leaving millions of Americans out of the car buying, leasing, service, and warranty industry. The industry expected to have approximately two million pre-owned roll off the lots, but what actually happened was that the pre-owned car sales were down 34% from last year. That was the bad news. The good news is that the upswing from April 2020 is 116% up showing that pre-owned dealers and finance companies have taken a position to fight back the virus with more than a little medicine. New car sales were down 32% despite manufacturers fighting hard for market share with offers that we have not seen ever. The opportunity to purchase a new or pre-owned vehicle is now and what you see today, will be gone tomorrow. Offers may be held over, but the next few months may make history with deals that consumers will never see again. Consumers have found the solution to social distancing by getting online to shop first. The ease of online shopping has infiltrated buying, leasing, financing and warranty purchases.
WarranTchimp, the online warranty portal simply links the consumer to the offer of a great warranty at the guaranteed best price, by simply doing it yourself. It is fairly easy for even the late to come to online shopping. The portal site asks the consumer a few questions, including the VIN number on the car, the mileage, the year and viola, the site pushes forward the basic recommendation that covers the things that extended car warranties have pushed to consumers at much higher prices. The site eliminates the middleman and allows for financing that gives the consumer the time it needs, while giving the consumer the vehicle service agreement they need to drive that vehicle for miles to come.
As consumers come out of their hobbit hole week over week, the industry is starting to breathe again and rally to recover 2020.