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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