The impact of vehicle shortages post-Covid and the benefits of online inventories 

Many buyers have struggled to find a vehicle during the inventory shortages post-Covid, putting strain on automotive dealerships, which have dealt with low sales, upset customers, and frustrating delays. Below, we’ll discuss whether dealership inventories are on the rise in 2023, what the long-lasting impact of vehicle shortages has done to the industry, and the benefits of online inventories for dealerships and customers. 

Atul Vohra and Thilo Koslowski

One of the concepts the COVID-19 pandemic has made increasingly apparent is the need for the automotive industry to innovate and transform the customer experience. Today’s consumers increasingly expect to be met wherever they are in the buying cycle with a highly customized and seamless experience – both online and offline. This type of customer-centricity in the automotive space is often as challenging to implement as it is rewarding.

Automotive is driving out of the tunnel and starting to see the light.  

While vehicle sales are still significantly down overall for April to this point, the industry is seeing some positive points of light as sales are trending up from a dismal end of March. And while many consumers may not be all the way to purchase level yet, their online activity appears to be adjusting to the new normal. 

COVID-19 is quickly spreading through the country. As this happens, businesses deemed non-essential are shutting their doors to comply with state and national guidelines. This includes car dealerships.

Last week, we shared what dealers should be doing during the pandemic to keep business as normalized as possible. Now, we have more information on what’s happening, what’s working, and what’s to come.