Election outcome likely to impact auto finance landscape
Three factors will be pivotal in shaping the automotive industry’s trajectory, according to Cox Automotive Chief Economist Jonathan Smoke: the spread of COVID-19 and a potential vaccine; the size and timing of an additional round of government stimulus; and the outcome of the 2020 election. But perhaps the most important is who will be president, because it will likely influence the continuing efforts to abate the deadly virus and provide financial support to impacted Americans.
In a Tuesday blog post that posits former Vice President Joe Biden will win the presidential race next week, Smoke outlined several ways that a new leader would impact the auto finance landscape.
Here are some key takeaways: