Press "Enter" to skip to content

Coronavirus could drop projected vehicle sales by 3M


The impact of the coronavirus could mean millions of fewer vehicles sold this year than earlier projections.

But a new report from J.D. Power says the industry can recover, although any recovery will be influenced by a “highly uncertain” post-virus economic environment as well as any potential government stimulus and whether automakers offer any discounts.

And the decision by Ford, General Motors, Fiat Chrysler Automobiles and other automakers to suspend production could have an impact on the industry’s ability to catch up on production levels depending on the length of that suspension.

J.D. Power says the industry could see a decline of up to 3 million in retail vehicle sales for the year, and that total sales are likely to finish fall in a range of 14 to 16 million vehicles as “our pre-virus outlook” of 16.8 million in sales is not attainable.



Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *