Published 27 Mar 2020
After having a number of conversations with dealers in the last day or so regarding the COVID-19 situation, it has prompted to me to relay some thoughts/ideas that have been discussed.
The majority of people I’ve talked to are greatly concerned (and with fair reason) about their businesses, but many are more optimistic and realise this is only a moment in time. We have experienced similar unsettling events in the past like the GFC, earthquakes and other large-scale business disruptions and the majority of us have come through OK.
Yes, it is likely we are all going to suffer financially in the short term, but Government support packages are already in place and others will likely come. Certain industry suppliers have also begun to rally and relief packages/discounts are beginning to flow through. Most recently, banks have also announced relief for those with mortgages and businesses with loans.
The simple truth is people will still need an essential item like a vehicle both during and after this crisis.
Yes the timing of purchases may have now been delayed but we will need to be ready when sales do come back, which they will, and be potentially prepared to transact in a more ‘virtual’ environment until this virus has been brought fully under control.
It is entirely in our control how we react to this situation and how we use this lockdown period to set ourselves up for when we come out the other side.
There are plenty of opportunities to make your business better during this 4-week period. Use it to make your dealership the preferred choice when things do return to normal soon.