Things are trending in the right direction for the global and national economy, but the widespread impacts of COVID-19 are laced with complexities. The economic effects have spared few, and while the country continues to claw its way out of the single largest quarterly contraction in 75 years, many industries and small businesses are still struggling to recover.
However, things are looking up for the automotive industry. Although OEMs face unprecedented challenges, new vehicle sales continue to climb and, bolstered by online sales, the aftermarket retail sales remain at levels above those seen in January–before the pandemic hit the U.S.
THE SHOP created the Key Performance Indicators Report to provide shop owners with valuable economic and industry data in an accessible, time-saving manner. Click on any of the links below to access that data in this month’s report that will, with any luck, help you navigate this time of uncertainty.
The widespread impacts of COVID-19 are laced with complexities and the economic effects have spared few.
State of Business: Automotive Industry
Though OEMs face unprecedented challenges, there are positive signs in the automotive aftermarket.
The COVID-19 recovery continues to trend in the right direction after three months of increased new vehicle sales.
A roundup of recent manufacturer safety recalls.
A third quarter economic rebound will likely be contrasted by fourth quarter contraction.
State of the Manufacturing Sector
Economic activity in the manufacturing sector continues to pick up.
Consumer sentiment and confidence may be down, but consumer spending continues to rebound.
