Ironically enough demand for cars went up during COVID. I can't tell you why, but I know it's a fact. Lack of supply is certainly a factor but I think there's probably more going on. Go check how insane the market is right now. It's nearly impossible to buy a new car, and used cars are selling at way above the notional blue book value.
Demand did go up, after the market adjusted to projections that with everyone in lock-down, demand for cars would go down. Demand for in home entertainment was projected to go up. Auto makers sold their capacity to people who were projected to use it in lock-down friendly ways. Once reality set in it was to late to get the capacity back.
We sold two cars and bought one new one. Remote work and a move to a rural area meant we had more cars than we needed, and that we needed to replace our city cars with something more rugged/utilitarian.
