The coronavirus pandemic continues to take its toll on the global auto industry as plants remain shuttered and consumers remain sheltered at home.
IHS Markit lowered its global auto sales forecast on Tuesday, saying it expects global vehicle sales to decline 22% this year to 70.3 million units, led by a 26.6% fall in the U.S. to 12.5 million units, compared to a year ago.
Domestic sales would be the lowest since the 11.6 million cars and trucks sold in 2010 as the industry emerged from the Great Recession. It’s also a steeper drop than IHS Markit’s forecast in March of a 12% decline in global sales for 2020.
