Coronavirus pandemic drives car buyers online
'Now dealers will bring the cars to you,' Cars.com CEO Alex Vetter said
"Car buying has completely moved online and now dealers will bring the cars to you" as a result of the coronavirus pandemic, according to Cars.com CEO Alex Vetter.
“Dealerships have really responded as people don’t feel comfortable coming into the physical showroom. That showroom as effectively moved online,” Vetter told “Mornings with Maria” on Monday.
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Vetter added that the pandemic has given vehicle ownership a whole new meaning.
“If there’s one thing COVID has done, it's reinforced the value of personal vehicle ownership and cars effectively have become an extension of our homes and are the safest form of transportation,” he said.
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Vetter said the desire for car ownership has impacted his business’ bottom line.
“I think it was the fourth best December in the history for new auto sales,” he said.
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In addition, Vetter pointed to “record sales” in urban markets, including San Francisco and New York that “used to shun car ownership.”