Sales of new vehicles in the U.S. fell 14.6%
last year, but a second-half rebound from a
coronavirus-related plunge in the spring kindled
optimism for a recovery later this year.
Automakers reported selling 14.57 million
new vehicles for the year, a far cry from the five
previous years with sales over 17 million. But
the 2020 performance was better than most
forecasters had expected when the pandemic
forced auto factories and many dealerships to
shut down in April and May.
General Motors Chief Economist Elaine
Buckberg said she expects sales to recover in
the spring. With warmer weather and widening
novel coronavirus vaccinations, life should return
more toward normal, lifting the job market and
auto demand, she said in a statement.