Automakers called and you answered. It was more than clear that people focused on other things than buying cars during a pandemic, so historically good deals on new vehicles started showing up across the industry, promising zero-percent financing for extended loan terms. That, in addition to deal sweeteners like deferred payments for up to four months in some cases. Consumers followed through as expected, and now, some of those incentives are drying up as more people take advantage, especially those involving popular SUVs and pickup trucks, according to Automotive News.
Analysts predicted that new vehicle sales would fall by up to 80 percent in April, which pushed several automakers into action.