Westchester and Fairfield County Business Journal 060120

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TRUSTED JOURNALISM AT YOUR FINGERTIPS

JUNE 1, 2020 VOL. 56, No. 22

westfaironline.com

New cars and trucks are lined up at the Scarsdale Ford dealership. Photo by Peter Katz.

INSIDE

Auto dealers shift gears in new economy LOOK TO REBOUND FROM 81% SALES LOSS

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BY PETER KATZ pkatz@westfairinc.com

TWB Decision SLOWLoan THE REOPENING Banner Ad 6” w x 1.5” h 3-24-20 PAGE

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SHOW MUST GO ON

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utomobiles, whether bought or leased, are big-ticket items for consumers. They also represent major sources of tax revenue for governments in addition to having employment and economic-activity impacts on

communities. In the New York metropolitan region, the auto dealerships have taken an estimated 81% financial hit from the restrictions enacted to combat the spread of COVID-19. While other areas of the state were starting to reopen businesses and the Mid-Hudson, Long Island and New York

City Regions remained closed, state restrictions on auto dealers were eased slightly. The dealers previously were being allowed to sell vehicles remotely and after mid-May were given permission to have customers make appointments to visit showrooms in order to shop for new

YOUR COMMUNITY LENDER… HERE TO HELP (914) 368-9919

» AUTO

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ISSUES OF REOPENING ON THE MINDS OF BUSINESSES, NONPROFITS BY PETER KATZ pkatz@westfairinc.com

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e need to on a macro level instill consumer confidence again and get people to start traveling. Hospitality and tourism are among the hardest hit sectors so far,” Sean Meade, general manager of the Cambria Hotel in White Plains and president of the Westchester Hotel Association told an online meeting. Meade was one of more than 150 members of businesses and nonprofits attending a virtual town hall meeting of The Business Council of Westchester’s Economic Recovery Task Force. The

meeting was moderated by BCW Vice President and COO John Ravitz. The task force has 44 members and its goal is to gather recommendations and deliver those recommendations to the governor’s reopening task force as well as County Executive George Latimer, according to Marsha Gordon, president and CEO of the BCW. “Over the coming weeks and months as Westchester reemerges from the shutdown, we will face daunting challenges,” Gordon said. Meade highlighted a major challenge for the hospitality and tourism sector. » ISSUES

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