The Best-Case Scenario for the Coronavirus Impact on U.S. Auto Sales Just Got Worse
A leading automotive forecasting firm now thinks that U.S. auto sales will fall at least 23% in 2020 -- and that's the best-case scenario.
ALG is a subsidiary of online car-shopping service TrueCar (NASDAQ: TRUE) that provides forecasts of auto sales and used-car prices to help banks set the prices of new-car leases. The company's analysts keep a close eye on auto sales trends, and they think the effects of the COVID-19 pandemic are shaping up to be worse than they expected just a few weeks ago.
As it did in its last update in March, ALG sees three possibilities for U.S. auto sales in 2020. But its new forecast is weighted more toward the negative outcomes than in March, and even the optimistic case is a lot less optimistic.
Source Fool.com
