We don’t want to say you missed out, but you might have missed out. Most auto manufacturers expected sales to dip as a result of COVID-19. They dipped, and dipped badly, but not as bad as was expected. And with more and more states re-opening, car prices are beginning to rise again.
To give you an idea of how this is all panning out, a Toyota dealer in Birmingham, Alabama, registered 200 vehicles on his lot in May. This was down from a typical inventory of 500. While in early May he was worried those 200 weren’t going anywhere, he is now ordering more and climbing back up to 500 as they are selling much faster than expected.
The drop between sales in May of 2020 compared to May of 2019 was roughly 30%. There was improvement from April to May, but sales are understandably still down. There has been [...]