The Impact of The Pandemic on the Automotive Industry

COVID’s Impact on the Automotive Industry and Car Sales

It is hard to ignore the significant effects of the coronavirus pandemic on all aspects of American society and life. However, the impact of the virus on the automotive industry has been particularly interesting and thought-provoking over the past few months. 

In June of 2020, US car sales experienced one of their worst quarters since the recession. The culprits? Pandemic-induced dealership closures, substantial automotive job losses, and closings of auto plants leading to limited supplies of the popular vehicle models in the dealership lots. Perhaps factors such as the increased time spent at home may have also contributed to fewer consumers seeking out buying cars. 

However, despite hits to the new car market, automotive sales, particularly in the used car markets, have seen increased popularity during today’s COVID age. Part of this shift toward buying used cars may be tied to economic uncertainty brought on by the pandemic and high unemployment rates. 

Going digital

Another major shift the industry has experienced is a push toward digitizing car buying, selling, and transporting processes. Many consumers are concerned about their health and adhering to social distancing/limited human contact guidelines. As a result, online car sales seem to be the way of the future. 

Some companies in the online car selling industry have seen huge influxes to their business. For example, the US-based company, Carvana who specializes in online-only car sales, saw a 25% year over year rise in car sales during the second quarter of 2020. Their stock share price has risen accordingly over time. It skyrocketed from roughly $30 a share in mid-March to close to $215 at the end of August. 

Looking toward the future

Effects of the virus span across the US and outward to overseas markets. According to a recent analysis by Counterpoint, US automotive markets are still fragile. On the other hand, China’s vehicle sales continue on their fast recovery track. 

It’s hard to predict what the future will hold for the automotive industry. The renewed popularity of used cars undoubtedly presents an opportunity. As does the digitization of automotive services. As of now, the automotive industry continues to perform at a reduced level in comparison to pre-COVID times. This is due to supply lines being disrupted and the overall demand for cars dampening. Hope for the future seems to point to digitizing the auto industry in a variety of key ways. 

Want to join the digital automotive revolution? Check out the Autosled and learn how our app streamlines the car shipping process by making it contactless. 

Top 5 Benefits of the Autosled App for Transporters

5 Reasons Why Transporters Should Use Autosled

Autosled strives to make the lives of auto-industry workers easier by streamlining internal processes. Our app makes car shipments across states simple and digital. Dealers who use Autosled request car shipments and corresponding transporters accept loads. With our free technology, transporters can glean a variety of benefits. Learn more about how Autosled works to solve common pain points below.

1. Get paid quick

Perhaps the greatest advantage of using Autosled, from the transporter perspective, is the guaranteed prompt payments. Gone are the days where transporters have to chase down a paycheck for completed jobs. With Autosled, we ensure that all transporters receive payment within two business days of a completed job. Even better, Autosled doesn’t have a service fee. When transporters sign up for Autosled, they provide their contact information, a valid bank account for direct deposit, an active DOT/MC number, and valid insurance information and they are up and running.

2. Cut down on paperwork

Another plus of our app is its ability to reduce the amount of paperwork necessary for car shipments. On top of that, all paperwork is stored digitally, so users can refer back to it if need be. Instead of piles of paperwork and countless calls back and forth, transporters just complete the video bill of lading (BOL), the first of its kind, to verify the condition of the car before and after transport. From there, Autosled provides electronic invoicing. It’s that easy.

3. Find and accept loads easily

In our app interface, transporters can see a plethora of loads in need of shipment from dealers across the Mid-Atlantic. Much like Uber, accepting a load shipment requires only a few clicks. Rather than hunting down business, transporters can get business to come to them with Autosled’s free app. Our technology makes load management and route optimization straightforward. When they enter the app, transporters provide preferences, such as current capacity, availability schedule, and target endpoint location in our system. From there, our technology identifies the best candidates for a shipment. 

4. Increase Income

One of the best app features of all comes down to efficiency, as well as profitability. Transporters can maximize their truck capacity by taking on multiple loads. That way, they make more money per trip by keeping their truck at capacity. Our app technology helps to recommend transporters with loads that correspond to their destinations and preferences. Let us help you keep your truck and pockets full!

5. Minimize Deadheading

By keeping trucks full, Autosled also contributes to sustainability efforts by cutting back on deadheading. Deadheading refers to wasteful miles driven without cargo or passengers. Full trucks mean higher earnings for transporters and a greener environmental impact. Everybody wins.

Using the Autosled app makes hauling cars simple. Register with Autosled or download our app in the AppStore for Apple or Android.