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Dodge Coronavirus Financial Relief and New Car Incentives

Masks, gloves, disinfectant spray, empty grocery stores, and alarming nightly news. This is the current state of the nation following the rapid surge in the spread of COVID-19. Only two months ago car automakers across the United States were looking at possibly the best first-quarter sales and earnings in their histories. Unemployment was at record lows and the stock market was hitting record highs. Fast-forward a few weeks and we find ourselves immersed in a world that has seen Coronavirus threaten the life of every American and spread fear and uncertainty throughout the nation. The panic has forced nearly every person and company to begin forming a plan of action to respond to the new threat.

Dodge Coronavirus Financial Relief and New Car Incentives

Dodge is learning how it is going to adapt to the new world we are living in. Originally the main supplier of drive trains for Ford Motor Co., brothers John and Horace Dodge started to produce their own vehicles under the Dodge Brothers Brand in 1914. In 1928 they became a major division of the Chrysler Corporation. From 1928 until the present day Dodge has remained a major player in the automobile market with a history of quality and workmanship that is often defined by the brand’s powerful and aggressive designs.

Dodge has implemented a plan that they hope will help calm and reassure their customers, while simultaneously maintaining a positive bottom line for the company.

Dodge Factory Closures - Find the best deals!

Dodge immediately put safety precautions into action at their factories as a result of COVID-19, including deep cleaning, social distancing and creating a virtual workspace for all eligible employees. On March 19th, after in-depth discussions with the UAW, they elevated their initial efforts to include shutting down production at all plants in North America, including Canada, Mexico, and the United States. These precautions were taken due to an abundant concern for the safety of their employees.

The closures were set to continue through the end of March and then be re-evaluated every week after March 31st. As of April 1st, the closures are still in place and likely to continue as a result of the extended nationwide shelter-in-place order. In spite of these setbacks, Dodge has been forward-thinking in formulating creative options to keep new and returning customers satisfied.

 
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Dodge New Car Incentives - Find the best deals!

As a result of the Coronavirus pandemic and the uncertainty it has caused on a global scale, Dodge has naturally seen a major slow down in vehicle sales here in the United States. Dodge has adapted quickly to the growing needs and concerns of its consumers by implementing the Drive Forward Program. This program offers customers the dealership experience in the comfort and safety of their homes. You customize the vehicle you want, complete the financing and warranty options, and Dodge will deliver your brand new vehicle to your doorstep.

In addition, prospective Fiat Chrysler Automobiles (FCA) buyers may also be eligible for interest-free financing for 84 months on a selection of Ram trucks. Dodge is also offering 0% financing for 60 months on the 2020 Chrysler Pacifica model, as well as 90-day deferred payments on select 2019 and 2020 models.

Dodge Customer Relief Program - Find the best deals!

Due to the Coronavirus pandemic, Dodge is acknowledging that current customers are likely experiencing financial hardships that may continue for several months. Dodge is offering current owners and lessees flexible payment arrangements and payment extensions to help ease the burden caused by COVID-19. New customers who have financed their vehicles with Chrysler Capital are being offered payment extensions on a case by case basis. Customers are encouraged to contact Chrysler Capital at (855) 563-5635 to discuss their options.

Dodge Economic Outlook and Sales Forecast - Find the best deals!

Experts across the spectrum of the financial world have varying opinions on where companies will come to rest when the Coronavirus pandemic finally ends. Opinions are mixed, and leaders in the automobile industry are quick to admit that this is a far different situation than the United States has ever experienced before.

According to J.D. Power, Dodge was looking at a 32% decline in sales compared to this time last year. However, one bright spot is that the best selling Dodge Ram Truck has miraculously been able to stay in the black, seeing a 3% sales boost for the first quarter of 2020. Dodge has suspended production, taken steps to keep their employees and customers safe, and is also deferring executive’s salaries for the year.

Due to the uncertainty that surrounds the fallout out of the Coronavirus pandemic, J.D. Power's March retail sales outlook is likely discouraging for automakers. J.D. Power expects to see a decline of 16% to 41% from car sales in March of the previous year. It’s predicted that somewhere between 14% and 39% of that decline is attributable to the effects of COVID-19.

However, there are some factors that may provide a ray of hope for both automakers and consumers. Vehicles are considered durable goods and they have historically demonstrated the ability to recoup lost sales resulting from short-term disruptions in the market. As a result, the auto industry may be one of the most adept industries when it comes to rebounding from the virus-related sales disruption. Of course, the extent and speed of the recovery will be directly influenced by the overall economic environment following the pandemic.

Notably, J.D.Power states that its 2020 outlook of 16.8 million U.S. light-vehicle sales - an outlook projected before the globe was ravaged by the Coronavirus - is no longer realistically attainable. J.D.Power expects that sales will likely fall in the range of 14 to 16 million units as a result of the fallout from COVID-19.