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progree

(10,864 posts)
2. Social distancing could be a boon to used car sales, Yahoo Finance, 5/22/20
Sat May 23, 2020, 07:55 AM
May 2020
https://finance.yahoo.com/news/social-distancing-could-be-a-boon-to-to-car-sales-181642918.html
... “We’ve seen a huge increase of people coming to shift.com,” says George Arison, founder and co-CEO of the peer-to-peer car marketplace. ”It's been kind of incredible.”

Arison told Yahoo Finance’s The First Trade business picked up after initially declining due to shelter-in-place measures to contain the virus.

“Within a couple of weeks, sales came back. We finished April down, only about 11% off of February and May is now trending to equal where we had hoped April would be, pre-pandemic, with pretty substantial growth over last year,” said Arison.

... “A lot more subprime applicants for financing for example, a lot more searches for domestic versus foreign made cars, and people are buying cheaper vehicles” he said, noting customers are spending about $1500 less per purchase — eyeing starting prices of around $14,000 versus $15,500 pre-pandemic.

... Arison believes people will use less ride-sharing services such as Uber (UBER) or Lyft (LYFT) due to social distancing.

Some people are even required to avoid it. The New York Stock Exchange told its employees they need to avoid public transportation when some of them go back to the floor when it re-opens next Tuesday.


I'm closely watching what is happening to our local public transportation system with great fear and horror. And watching state and local finances going way south. Anyone thinking public transit is going to operate indefinitely at maximum 1/4 capacity for social distancing is fooling themselves.
Didn't Hertz get any bailout money? gab13by13 May 2020 #1
Social distancing could be a boon to used car sales, Yahoo Finance, 5/22/20 progree May 2020 #2
Mass transit usage needs to be re evaluated MichMan May 2020 #3
People have to get to work, and I don't think car pools and van pools are very healthy progree May 2020 #5
I would rather put up with road congestion than getting a infectious disease MichMan May 2020 #6
Many people don't have a choice gab13by13 May 2020 #8
Yes, parking fees - eats up at least one hour of wages of a low wage worker per day progree May 2020 #11
Just because an area is urban doesn't mean the risk is greater...seems like outbreaks are booming... SWBTATTReg May 2020 #13
They somehow manage in Japan Steelrolled May 2020 #19
The pandemic is creating structural changes in our entire economy.... paleotn May 2020 #4
Yes, big structural changes that will be permanent are in the works. machoneman May 2020 #15
The average family is expected to save for retirement or emergencies. rickford66 May 2020 #7
The large corporations got bailed out, gab13by13 May 2020 #9
Yeah Proud liberal 80 May 2020 #10
According to their Q1 financials melm00se May 2020 #18
It's Worse Than That ProfessorGAC May 2020 #23
Why are these companies going bankrupt so early on? Scalded Nun May 2020 #12
No, they see the wave of bad news not only for 2020 but well beyond that. machoneman May 2020 #16
They've Got A Billion In Cash ProfessorGAC May 2020 #24
A legendary "underdog" advertising campaign Marcuse May 2020 #14
That hurts. C Moon May 2020 #17
Seriously? what'd they do with that BIG TAX CUT trump gave them in 2017, 2018, & 2019. nt iluvtennis May 2020 #20
Stock buy backs Raine May 2020 #21
Yep. But guess greed prevented them from selling some stocks to take profits and put iluvtennis May 2020 #26
More Than $20 Billion in Debt ProfessorGAC May 2020 #22
Wow. nt iluvtennis May 2020 #25
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