As the Coronavirus makes its way around the world, we want to ensure you that we're doing everything in our power to get your vehicles delivered. Our teams on both coasts remain healthy and continue to operate. We are optimistic that this pandemic will be short lived, and we are prepared if the situation gets worse.
US suspends air travel between US and Europe - Ocean shipping remains unaffected.
The United States just announced the suspension of all travel between the US and Europe for the next 30 days starting this Friday. This will disrupt air travel in a major way, and may significantly impact cargo being moved by airplanes, as passenger planes are used to transport cargo, including cars and motorcycles. The travel ban does not affect shipping in containers by ocean.
There are currently no restrictions in place on container shipping between the US and Europe. Ships continue to depart each week, and consolidation remains available. We are not experiencing equipment shortages.
Classic cars in the US will become more affordable.
The US dollar just significantly dropped in value versus all currencies. The EUR/USD is now at $1.13 and the GBP/USD is at $1.28. The US government is planning additional rate cuts which will can further deteriorate the value of the USD.
We expect classic cars to become more affordable in the US not only as a result of the US dollar decline, but also due to the deteriorating economy. Just like the classic car values dropped in 2007-2009, we expect cars to become more affordable and easier to find.