US auto sales evaporating fastBusiness | 2 Apr 2020 11:23 am
Auto sales are evaporating with people on every continent shutting in, and certainly not haggling on car lots.
The Edmunds.com auto pricing site estimates that U.S. new vehicle sales plunged 40 percent last month compared with a year ago. First quarter sales dropped an estimated 13.6 percent, erasing gains from January and February.
Toyota sales plummeted by 37 percent in March and 8.8 percent for the quarter.
Hyundai reported March sales fell by 43 percent and for the quarter, dropped by 11 percent. Subaru, which usually reports growth, saw a 47 percent plunge in March and a 16.7 percent drop so far this year. Fiat Chrysler, which only reports quarterly numbers, said sales fell by 10 percent, while General Motors was off 7 percent.
Not all automakers reported sales Wednesday. Edmunds made estimates for Ford, Mercedes-Benz, Tesla and others that will report later.-AP