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US Auto market in May 2020 lost one fourth of the previous year

US Auto market in May 2020 has been just over 1,19 million units, with a 24.6% fall on the correspondent month last year, a better year-on-year performance compared with April, and much better than all the other large countries in the World.US Auto Market in MayNew light vehicles sales in May have been just over 1,19 million units, with a 24.6% fall on the correspondent month last year, a better year-on-year performance compared with April, and much better than all the other large countries in the World (a part China which is now back in the positive recovery curve).Despite aggressive commercial rebate and high use of virtual transactions, the OEMs have not been able to moderate the sales lost both in private and fleet segments. The Big 3 American corporations (GM, Ford and FCA) refused to share their data, but no-one of them was able to contain sales below the 25% lost. May is historically a critical month for the industry as it kicks off the summer sales season — a time when automakers push to clear out current model-year vehicles to make way for newer cars and trucks. It the past five years, it has on average raked the third best month of the year for sales. Post Covid19 Market TrendThe US Government approach to Covid19 was astonishing for the first World economy and the very late approach to the crisis created a long wave of economic fall with US Auto market declined 31.4% in March, ending the first quarter with 3.47 million light vehicles sold (-12.0%).In April the market fell down 43%, doing better than all the major European countries, due to the US Government decision to not take a full lockdown to activities, leaving at single State the discretionality to manage the pandemy. The Auto market, as many other activities, has been partially preserved in the short terms, while the question regard how long the market will suffer, compared with countries able to activate full shutdown, with higher sales fall, but projecting a shorter recovery period.Medium term market directionFollowing the sharp 2008 crisis which created a collapse to the US vehicles market, with Chrysler group saved by the merge with Fiat and General Moors rescue by the government credit, in 2011 the market has taken a long recovery way and grew up from 10.5 million (2010) to the all-time new record, hit in 2016 with 17.5 million.However, the change in the White House guest and the new protectionist policy, with initial economy boom due to the sharp tax cut, did not benefit the sector and in the last three years the market has moderately lost, down to 17.23 million in 2017, at 17.34 million in 2018 while ending the 2019 at 17.08 units sold. The outlook for 2020 was again of a moderate decline, before Covid19 arrival. Indeed sales grew up 5.5% in January before to lose 2.6% in February.The auto industry was already facing financial headwinds. But new challenges courtesy of the coronavirus may take auto manufacturers and suppliers years to overcome.Tables with sales figuresIn the tables below we report sales for all Top Brands and top 10 Models:This content is for members only. Visit the site and log in/register to read.

Cape Verde. Auto sales plummet 38.7% in sales Year to Date in August 2020 while Volkswagen soars 170%
Friday September 25, 2020

Cape Verde vehicles market in 2020 reports considerable losses as the pandemic influences sales. Indeed, 315 units were sold Year To Date until August, losing 38.7% compared to last year. Renault  (-45.1%) remains the leader, closely followed by Toyota (-12.4%). Volkswagen was the best performer, soaring 170%. Economic Environment Cape Verde’s economic growth momentum remains […]

Honduras 2020. Nissan holds 21.4% share in a market steadily down 24.8%
Monday November 16, 2020

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