The car market in America at the end of the year may collapse by 20%June 8, 2020
Analysts at Alixpartners believe that the US automotive market at the end of the year may “sag” by 19.9% compared to last year.
Note that, due to the coronavirus pandemic, the global car market faced a sharp decline in sales. First of all, it was affected by the closure of dealerships and the shutdown of production. Also, incomes fell significantly.
Experts believe that it will take several years for the American car market to return to the level that was observed before the introduction of the quarantine regime in the country. It is worth noting that the US car market is the second largest market in the world, second only to China. However, according to the results of 2020, the sales volume on it will be about 13.6 million cars. Meanwhile, in 2019, dealers sold over 17 million cars.
However, despite this, the preferences of buyers in the United States will change. And if now sedans and hatchbacks account for about 23.9% of total car sales, then by 2027 this figure will drop to 20.1%. Over this period, the share of SUV in the US market will increase from 50.9% to 56.1%.
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