NASSAU, BAHAMAS — A Bahamian auto dealer said yesterday that given the current economic environment he was ‘surprised’ that his business volumes were at roughly 90 percent pre-COVID levels.
Ben Albury, the Bahamas Bus & Truck General Manager told Eyewitness News noted the stalled economy and rising unemployment.
“Surprisingly we are extremely busy which doesn’t seem to make sense when they say 40,000 – 50,000 people are unemployed. It’s hard to gauge the sustainability of it. I’m not breaking any records necessarily but all things considered, business has been very good,” Albury said.
“Over the last few years business has been very hard to predict,” he said.
“Ten years ago we sort of knew what the standard was but it seems as though the last couple of years, just because I had a good month in September one year didn’t mean I would have the same thing happen the following September. I’d say we’re doing probably 90 percent of what we would have done prior to COVID-19. Service is very busy, Parts is very busy, new and used car sales are very busy.”
Further, Albury noted that customers were not relying on bank financing.
“I have noticed that not many of these transactions are happening with financing. Access to credit is a bit more difficult now. Obviously, the banks are mitigating the risk and people that may have been strong candidates before for financing are now finding themselves in a different position. I expect that to continue for some time,” said Albury.
Still, Albury noted that the country must re-start its tourism sector while relaxing certain restrictions.
“This idea that people are going to vacation in place is not going to work,” he said.
“No one is going to come here and spend their vacation in quarantine. I think e need to keep the protocols in place but the government is going to have to set some more realistic guidelines if they expect to get the economy back up and running. I thank God that my business is moving and I can get up and go to work every day. Not everyone has that luxury. The economy has to be firing on all cylinders and not with just a few industries.”
