IHS slashes 2020 global light vehicle sales outlook on coronavirus hit [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
IHS slashes 2020 global light vehicle sales outlook on coronavirus hit (Reuters) - Data firm IHS Markit sharply lowered its 2020 forecast for global light vehicle sales on Tuesday and warned that the United States will take the biggest hit from the coronavirus pandemic. IHS, which closely tracks automotive sales and production trends, said it expects global light vehicle sales to fall 22% to 70.3 million units in 2020, from prior estimates of a more than 12% drop. In the United States, where most states have allowed online purchases but inventories still remain high, the consultancy firm expects auto sales to fall 26.6% to 12.5 million units in 2020, compared with a year earlier. Vehicle production largely remains shut down in April in North America as automakers have been forced to delay introductions or planned ramp-ups of several new vehicles. The United States here has the world's largest number of confirmed coronavirus cases, with more than 774,000 infections and a death toll of
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