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.