Auto Sales Expected to Recover
June 29, 2020—After its collapse in April due to the coronavirus, auto sales are expected to continue to recover in June, reports Reuters.
According to J.D. Power and LMC Automotive, it is estimated that the total U.S. vehicle sales will fall about 25 percent, about 1.09 million units in June, slowing from an over 40 percent plunge in April and 29 percent fall in May.
Record levels of incentives by automakers are supporting the sales recovery, with the incentive spending on track to reach $4,411, the highest ever for June and an increase of $445 from last year. However, the two consultancies said inventory constraints amid the pandemic and any easing of the demand could hurt the overall pace of sales recovery.