Car sales in the United States may collapse by 80%March 26, 2020
Analysts said Wednesday that car sales in the United States suggest that orders will be reduced by 80% or more due to restrictions on the spread of coronavirus.
Retail sales of cars during the week of March 22 decreased by 22% throughout the United States year on year and to 40% in some cities on the west coast of the United States, according to an analysis by research firm JD Power based on data from dealerships across the country.
“We expect to see a much wider impact of the restrictions introduced next week, with sales dropping 80% or more,” said Tyson Jomini, vice president of data and analytics.
Tyson said that New York, in particular, the market, which has so far proved to be fairly stable, is expected to change dramatically over the next week. New York on March 20 ordered approximately 19 million state residents to stay at home.
But Thomas King, president of J.D. Power according to data and analytics, said that car buyers are likely to bounce back after a long stop, which will help the auto industry recover.
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