U.S. Light Vehicle Sales Plunge 27% in March as COVID-19 Pandemic Intensifies
Light car sales in the U.S. plunged almost 27% in March in contrast with a month earlier, knowledge released by an automotive research group confirmed Wednesday, as the coronavirus pandemic heightened and shuttered dealerships throughout much of the nation.
In March, 992,392 light autos had been sold, down from around 1.4 million in February, based on Wards Intelligence.
The seasonally modified annualized rate for U.S. automobiles and light vehicles sales were forecast at 11.4 million items, down from 16.8 million models in February, Wards Intelligence stated.
Moody’s Investors Service stated Friday that U.S. light automobile sales would tank at least 15% this year as the scores agency sharply withdraw its 2020 vision for global auto sales, with Western Europe anticipated to take the biggest hit.
The development comes as the U.S. is taking a look at an increasing number of deaths from the coronavirus pandemic, with Reuters’ tally displaying over 4,500 deaths and over 200,000 infections.
President Trump and his top healthcare advisers urged Americans to follow strict social distancing directives ahead of a “difficult two weeks” that could see a minimum of 100,000 deaths from the pandemic.