As America heads into Thanksgiving week and comes to the end of this roller-coaster year of COVID-19 disruption, ALG — the forecaster of residual values across the auto industry — took a look back at 2020 and what shape the business is in going forward.
ALG's analysis may surprise many.
The industry proved its resilience, and it caught a few breaks. Even though full-year sales will show the steepest drop since the carnage of 2009, the industry is already well on its way back to normalcy, said Morgan Hansen, ALG's vice president of data science. One way things are already normal: "People are out there buying, because they can."