I agree. I bought my most recent car by using Cars.com. Car dealers use radio to sell service, not as much new car sales.
The real killer right now is lack of retail in the 4th quarter. When I look back to older program logs, they were filled with Sears, Penney's, Macy's, K-Mart, WalMart, Walgreens, CVS, and other major retailers. Now there's next to nothing in that category. Just Macy's and Lowes. We all used to depend on 4th quarter Christmas sales to make up for losses during the year. That won't happen this year. That's why everybody is laying off staff.
That's an excellent point, and it's true of all media. Lots of retail chains are gone, and the ones that survive have moved to digital strategies. Of those chains you have mentioned Walmart is really the only one that's financially healthy. None of them are spending what they used to on broadcast ads.