Data firm IHS Markit sharply lowered its 2020 forecast for global light vehicle sales on Tuesday and warned that the United States will take the ...
Data firm IHS Markit sharply lowered its 2020 forecast for global light vehicle sales on Tuesday and warned that the United States will take the biggest hit from the coronavirus pandemic.
IHS, which closely tracks automotive sales and production trends, said it expects global light vehicle sales to fall 22per cent to 70.3 million units in 2020, from prior estimates of a more than 12per cent drop.In the United States, where most states have allowed online purchases but inventories still remain high, the consultancy firm expects auto sales to fall 26.6per cent to 12.5 million units in 2020, compared with a year earlier.
The United States https://in.reuters.com/article/health-coronavirus-usa-casualties/us-coronavirus-deaths-top-42000-as-protesters-demand-restrictions-end-reuters-tally-idINKBN22306F has the world's largest number of confirmed coronavirus cases, with more than 774,000 infections and a death toll of at least 42,000.
IHS estimates global light vehicle production to drop 21.2per cent, with the biggest disruption coming in the first half of the year.
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