U.S. auto sales begin recovery from March coronavirus drop: J.D. Power analysts

Business

FILE PHOTO: Automobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo

(Reuters) – Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.

Retail sales stabilized during the first two weeks of April and are now showing signs of recovery, the analysts said.

J.D. Power, which receives extensive sales data from U.S. auto dealerships, compares actual sales to its pre-virus forecast for the industry.

“For the week ending April 19, retail sales were down 48% from the pre-virus forecast, an improvement of 3 percentage points from the week ending April 12,” the analysts said.

Reporting by Tina Bellon in New York; Editing by Chris Reese

Products You May Like

Articles You May Like

‘Hello, Love, Again’ Sets Opening Record For Filipino Film, Marketing To Vibrant Audience “Exhibitors May Have Underestimated”
Book Riot’s Deals of the Day for November 22, 2024
That Time Josh Brolin Didn’t Realize Denzel Washington Was Fully In Character And Touched Him On The Shoulder. What Happened Next Was Wild
Snowflake (SNOW) Q3 earnings report 2025
Chile’s ‘seed guardians’ preserve forgotten plant varieties