CBT News, July 10, 2020 –
Cautious optimism is the sentiment many dealers are feeling as the auto retail industry settles into Q3. After strong showings for sales, considering the challenges, in May and June, some experts say that the boom from pent up demand will slowly fade. Others, however, are predicting an aggressive recovery through the end of the year due to an increase in digital retailing efforts and consumer fears around public transportation.
On this show, CBT welcomes back Charlie Chesbrough, senior economist and senior director of Industry Insights at Cox Automotive. In this segment, Charlie breaks down the economic forecast and impact into the third quarter for retail automotive, consumer sentiment and buying behaviors, and the current view of new and used retail sales and price market.
For more great insights from Charlie Chesbrough, be sure to watch the entire interview.