That new sleigh we might see Santa Claus navigating Thursday night? Thereâs a good chance he purchased it around here.
As with nearly every other business, the auto industry has been affected this year by the COVID-19 pandemic. According to Cox Automotive, the Michigan-based parent company of such brands as Kelley Blue Book and AutoTrader, 2020 sales forecasts are expected to be down 15.3%, to 14.4 million new vehicles sold.
It will mark the first year to finish with fewer than 17 million units sold since 2014. Much of that total can be attributed to a 34.1% dip during the second quarter when compared to the same time last year.