https://www.autonews.com/finance-ins...ek-forbearance
Quote:
Ally said 25 percent of its auto-loan customers have asked for payment deferrals, and the vast majority have never been delinquent before.
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That's not good.
https://www.autonews.com/retail-tech...vehicle-market
Quote:
"Through the latest week, retail sales nationwide are down about two-thirds relative to the same week last year," Smoke said. "But on the shopping side, we're closer to 11 or 12 percent down, meaning that there's still traffic. There's still consumers engaging for both new and used vehicles."
In an interview last week, Smoke also pointed out that the virus has had a lesser impact on consumer website traffic than on vehicle sales. Automaker incentives are getting shoppers' attention, he said, but in some cases they're not yet leading to sales because would-be buyers are prevented from transacting because of government orders that have temporarily closed showrooms.
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This kind of aligns with my thoughts above. There's also this:
Quote:
LotLinx, an automotive marketing technology company that targets buyers deep in the buying process, says its data about inventory and shopper volumes through the end of March and into April also indicates consumers remain interested in buying cars. The COVID-19 outbreak is keeping many low-funnel prospective buyers from completing purchases, CEO Len Short told Automotive News.
"I think we have evidence that when markets open up, people will buy more cars," Short said.
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Which links to
https://marketreports.lotlinx.com/ which is interesting, but dunno about accuracy. Overall, it suggests a lot of people want to buy cars, but they're not buying them. It might also be showing a lot of people are spending more time browsing cars because they have a lot of time on their hands but they're never going to buy them.