U.S. light vehicle sales fall 27% amid COVID-19 outbreak

Amid COVID-19 outbreak, U.S. light-vehicle sales crashed ~27% to 992,392 in March from ~1.4M in February.

The seasonally adjusted annualized rate for U.S. cars and light trucks sales were estimated at 11.4M units, down from 16.8M units in February, Wards Intelligence said.

Moody’s expects U.S. light vehicle sales to fall at least 15% in 2020 as the ratings agency sharply cut its 2020 outlook for global auto sales, with Western Europe expected to take the biggest hit.