This week’s super advancements include used car sales predictions, OEM factory updates, and the outbreak’s impact on EVs. Plus, the trailing effects of the struggling rental industry.
FROM AUTO REMARKETING: Tailwinds Abound, Used-Car Sales Likely to Double April Figures
With some major markets still slow to recover, used vehicle sales are predicted to double from April to May thanks to pent up demand for budget-friendly models.
FROM CAR AND DRIVER: Supply Disruptions Are Challenging the Return to Auto Production
After weeks of prepping for safe and UAW-compliant reopenings, U.S. factories have been off to a slow start due to parts shortages. These temporary delays continue to impact the timeline of getting new cars back onto dealers’ lots.
FROM CNN: The Rental Car Industry Has Ground to a Near Halt. This Is What That Means for Automakers and Car Buyers
Rental car companies are predicted to pump hundreds of thousands of units into the used car market after taking major hits during the virus outbreak. Analysts expect this influx of cars to eventually impact demand and prices of new and used models.
FROM BLOOMBERG: Costly Electric Vehicles Confront a Harsh Coronavirus Reality
Global EV sales are predicted to fall 14% year over year. True fans of electric aren’t discouraged by the dip in demand, but other automakers are using this as a sign to put a pin in new model rollouts.