U.S. Hispanic Americans will help recover car sells because of COVID-19
Car sales can increase among Hispanic Americans because of COVID-19
The COVID-19 pandemic has transformed the world to unprecedented and unthinkable circumstances.
Not only has the health of the world’s population been on the brink of catastrophe, so has the economy.
After almost nine months of global crisis, few productive sectors have been able to save themselves from the nosedive.
Although the forecast of the economic crisis at international level shows less negative figures than those expected, things are quite uncertain.
The world has changed suddenly and with it our lives.
With prolonged quarantines around the world and mostly in all the United States, the country with the highest number of victims and positive cases of the virus, many sectors that did not respond to staple products were frozen, including the automotive sector.
However, as economies continue to reopen, the risk continues, and the dynamics change.
Some sectors are recovering slowly, and others show bolder dynamics, thanks to different consumer behaviors.
“The pandemic could precipitate structural changes in the market,” says a McKinsey & Company analysis, which includes the automotive sector.
“For instance, mobility trends may pause if more people choose to own a car and drive everywhere because they think ride sharing and public transportation are too risky during a pandemic,” says the analysis.
The study mentions still-low oil prices as a positive effect to make driving much more affordable and its effect to reactivate or even improve the automobile sector recovery.