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Friday, 26 June 2020 17:08

U.S. New-Car Sales in June Seen Down as Much as 30%: Research Firms

While U.S. new-vehicle sales in June are expected to decline as much as 30%, research firms on June 25 maintained that retail demand has held up relatively well during the coronavirus outbreak and the question now is whether the industry can rebuild inventories fast enough as demand rebounds.

“The fact that retail sales---not fleet---are what kept the market propped up speaks volumes to the resilience of the American consumer,” Edmunds’ Executive Director of Insights Jessica Caldwell said in a statement.

 

The shutdown of plants and auto dealers hit the U.S. auto sector hard in April and May, but assembly plants reopened starting May 18 and have since boosted production while sales have rebounded as states reopen economies.

 

To read more, see Reuters

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