Stimulus spending by governments around the world is keeping the outlook for the auto industry strong in the coming months amid the COVID-19 pandemic, said Reid Bigland, Fiat Chrysler Automobiles’ former head of U.S. sales.
“Normally when you get an 80-year high in unemployment — 14.7% — you’re going to get devastation across the board,” Bigland said Tuesday during an Automotive Press Association webinar. “You’re going to get repossessed cars. You’re going to get home foreclosures, people delinquent on their homes and their payments. You’re going to get borderline Armageddon. But it didn’t happen.”