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IPFS News Link • Transportation

Car Companies Expected To Post Lowest Sales In A Decade As Focus Turns To 2021 Recovery

• Zero Hedge - Tyler Durden

Auto sales numbers for the end of 2020 could be the harbinger of a recovery to come in 2021 - but the annual numbers for 2020 are undoubtedly going to look ugly in the grand scheme of things. 

Despite decent numbers from GM and Toyota for December, all major automakers are expected to post "significant declines" for the year, according to the Wall Street Journal. 

Sales will likely total 14.4 million to 14.6 million for the year once results are in. This would mark a 15% decline from 2019 and the lowest level for sales in a decade. 

Among the highlights and lowlights:

GM saw sales up 4.8% and sales of new pickup trucks rising 11%.

Toyota saw sales up 20.4% and its 9.4% fourth-quarter sales beating estimates of 9%.

Mazda's December sales were up 18%.

Nissan's fourth-quarter sales dropped 19%, marking its eighth straight drop, according to Bloomberg.

According to the WSJ, Fiat's fourth quarter sales were down 8% due to "sharply lower demand" from car-rental companies.

As we noted days ago, Tesla sales for the year came in at 499,550, up about 36% year over year. 


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