Cars are parked in an auto dealer lot Wednesday, April 15, 2020, in Green Park, Mo. U.S. retail sales recorded a record drop in March, with auto sales down 25.6%, as the coronavirus outbreak closed down thousands of stores and shoppers stayed home. (AP Photo/Jeff Roberson)AP
CLEVELAND, Ohio — U.S. auto sales should fall by 22% in 2020 from a year earlier due to the Covid-19 pandemic, according to a new report from Freedonia Focus Reports.
The Cleveland-based research company said the Covid-19 pandemic is expected to reduce the value of U.S. motor vehicle retail sales by 23% from 2019 levels in 2020, and unit sales are expected to decline 22%.
Contributing to the 2020 decline in sales, according to Freedonia, are factors including:
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