Automotive Dealership Owners

The automotive industry had stable dealership employment for several years leading up to 2020, as reported by the National Automobile Dealers Association in its midyear 2020 review. The coronavirus pandemic, however, has had a dramatic impact on the industry, with many automobile manufacturers and dealerships closed during stay-at-home and lock-down orders throughout the U.S. and in other countries. The reduced demand for vehicles in the first half of 2020 caused many dealerships to furlough or lay off employees. The future is starting to look brighter, however, as many automotive dealership owners have adapted to new protocols by offering online vehicle purchases and more services online. In addition, more people are interested in purchasing cars to to avoid public transportation. Retails sales of vehicles are expected to increase through the coming year.