29 Jun 2020
COVID-19 spike clouds US vehicle market outlook, says GlobalData
Posted in Automotive
Following news that COVID-19 cases are on the rise in a number of US States, prompting new restrictions on populations;
Calum MacRae, Automotive Analyst at GlobalData, a leading data and analytics company, offers his view:
'Rising COVID-19 cases in the US brings further downside to GlobalData's US light vehicle sales forecast. Increasing infection rates in three key US sales markets - California, Texas and Florida - means that stronger headwinds are a real threat. If tighter social restrictions are introduced or re-introduced in the coming days and weeks, prospects for the US market will suddenly look much dimmer than the $14.6m GlobalData currently forecasts for the US market and will potentially result in a sub-$14m market.
'Central to the new threat to the US market prognosis is that California, Texas and Florida are the US' three single largest light vehicle markets. Vehicle manufacturers will be rightfully concerned about short-term business prospects in the US if the cautious optimism of recent weeks is replaced by more demand volatility and uncertainty.
GlobalData plc published this content on 29 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2020 18:53:04 UTC