icon-branding Events Icon Created with Sketch. Inventory Icon Created with Sketch. icon-mail-hovericon-mail Marketing Icon Created with Sketch. icon-operationsicon-phone-hovericon-phone Product Training Icon Created with Sketch. Sales Icon Created with Sketch. Service Icon Created with Sketch. icon-social-fb-hovericon-social-fbicon-social-google-hovericon-social-googleicon-social-linkedin-hovericon-social-linkedinicon-social-rss-hovericon-social-rss icon-social-twitter Created with Sketch. icon-social-twitter-hovericon-social-twittericon-social-youtube-hovericon-social-youtube

News Coverage

The Coronavirus Holds Down Auto Sales, But It’s Still A Seller’s Market


Facebook Share Twitter Tweet Linkedin Share Email Email

Forbes, Dec. 22, 2020 – The deadly coronavirus pandemic continues to cast a shadow on the U.S. economy and auto sales, probably through at least the first half of 2021, until vaccines become more widely available, according to a forecast from Cox Automotive.

“We are starting to think things look a little bit tougher for the vehicle market,” said Charlie Chesbrough, Cox Automotive senior economist, in a recent webinar just before Congress passed the latest economic aid package. “We’re seeing vehicle sales under quite a bit of pressure this month.”

In a typical business cycle, it’s a buyer’s market when U.S. auto sales decline, because in a typical business cycle, the auto industry overproduces when sales first start to go down. Inevitably, that forces the automakers to cut prices to move the metal.

Read more.