April Auto Sales Could Plummet 80% In Europe, 60% In U.S. [Forbes]
IHS Markit Ltd. Common Shares (INFO)
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Source: Forbes
Freight transport with the inscription coronavirus. The concept on the spread of the 2019-vCoV virus... [+]during cargo transportation between countriesGettySales of sedans and SUVs dived more than 50% in coronavirus inflicted Western Europe in March, outpacing the U.S. fall of nearly 40%, and forecasters expect even worse numbers in April, although they still cling to hopes that all will be well after a “V” shaped recovery.Western Europe, which includes all the big markets like Germany, Britain, France, Italy and Spain, will be even worse this month, possibly down by 80%, while U.S. April sales will fall “only” 60%.LMC Automotive said Western Europe sales fell 52.9% in March to 774,280 compared with the same month last year, bringing the annual selling rate down to 6.6 million, off 22.1%. This included falls of 85% in Italy, 72% in France, 44% in Britain and 38% in Germany.U.S. sales fell 38.6% to 983,174, not quite as bad as the 41.4% plunge in February 2009 after the financial cris
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