A survey of the automotive aftermarket industry found that the coronavirus pandemic is hurting businesses, but most will survive.
SEMA polled more than 2,000 people in the industry, asking a range of questions about how stay-at-home orders have impacted business operations and sales.
Here’s what they found:
Most Businesses Will Be OK
An astounding 87% of businesses are operating “business as usual” or are “impacted short-term, but will get through it.” Only 1% will be forced to close permanently.
Most Businesses Remain Open
Because most states classify the auto industry as essential, 55% of businesses remain open and “do not intend to close any facilities.” However, 15% are closed until the pandemic ends.
Most Workers Still Have Jobs
It’s great that 82% of employees are still able to work on location or from home. However, 18% have either been furloughed or laid off.
Still, Sales Are Down
Compared to this time last year, 33% of businesses have seen sales drop by at least half. Meanwhile, 21% of businesses have seen sales drop by 30% to 40%.
Overall, the findings are promising. “The results show that even in these difficult times, our industry is resilient and working diligently to move past this disruption,” SEMA said.
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