Published on Monday, August 3, 2020

U.S. Auto Sales Chartbook. July 2020

New vehicle sales were stronger than expected in 2Q, resulting in an upward revision to our annual forecast. However, sales were still 33.7% below the levels observed in 2Q19, the worst decline since 2Q09.

Key points

  • Key points:
  • After a sharp contraction in April, sales increased in May and June, supported by fiscal stimulus and the partial reopening of the economy
  • Despite improving figures, sales are likely to remain subdued through the rest of the year as the pandemic continues to wreak havoc on economic activity
  • In the long-run, sales could be affected by changes in consumer behavior induced by the pandemic (e.g. people moving away from urban areas, or increasing rates of remote work).

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