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These are the automakers that have won big or lost ground going into 2021 Published: December 28, 2020 16:51 Washington Post Some automakers have responded better to the shifting markets than others. The pandemic has enabled them to stop producing cars that didn t make money, rein in incentives, trim budgets for efficiency, and become more disciplined regarding supply and demand. Image Credit: Supplied
If you asked automakers in April or May about the outlook for the rest of 2020, answers would have been grim.
Plants around the world were shut down, production stalled, workers were furloughed, sales plummeted, and billions of dollars were lost. Early estimates from IHS Markit had year-end U.S. sales barely cresting 12 million new vehicles.
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The Automakers That Have Won Big or Lost Ground Going Into 2021
Bloomberg 12/24/2020 Hannah Elliott
(Bloomberg) If you asked automakers in April or May about the outlook for the rest of 2020, answers would have been grim.
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Plants around the world were shut down, production stalled, workers were furloughed, sales plummeted, and billions of dollars were lost. Early estimates from IHS Markit had yearend U.S. sales barely cresting 12 million new vehicles.
By December, many automakers had bounced back and then some. IHS now predicts 14.5 million new-vehicle units will be sold in the U.S. this year, down roughly 3 million units from 2019. Cox Automotive puts the number at 14.4 million, down 15.3% year-over-year.
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COVID-19 Update: Business Association Urges Public Support of Michigan Restaurants and Hotels, State Jobless Rate Increases in November, and More
Here is a roundup of the latest news concerning the COVID-19 pandemic in addition to announcements from local, state, and federal governments, as well as international channels. To share a business or nonprofit story, please send us a message.
Courtesy of Bridge
Here is a roundup of the latest news concerning the COVID-19 pandemic in addition to announcements from local, state, and federal governments, as well as international channels. To share a business or nonprofit story, please send us a message.
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