US auto sales recovering during coronavirus pandemic but still significantly down, J.D. Power says [CNBC]
FIAT CHRYSLER AUTO NV (FCAU)
Last fiat chrysler auto nv earnings: 2/6 06:58 am
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Source: CNBC
A salesman talks to a person in a vehicle at a Fiat Chrysler Automobiles (FCA) car dealership in Moline, Illinois.Daniel Acker | Bloomberg | Getty ImagesBig discounts,low financing ratesSales this month are still expected to be down about 50% compared with April 2019. However, the decline is far less than previously expected with thecoronavirus pandemic"We are now firmly in a period where we see sales of new vehicles start to recover," Thomas King, president of the data and analytics division and chief product officer at J.D. Power, told CNBC. "We're still severely depressed in terms of vehicle demand, but the good news is we have turned the corner in terms of the declines."King said 0% financing offers, big incentives from automakers and all states now allowing at least online vehicle sales all contributed to the rebounding sales, which are up 11 percentage points from the end of March.J.D. Power reports 24 states, which represent 44% of 2019 retail sales, allow dealership sales oper
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