Hyperdrive
Automakers Are About to Give an Inkling of the Sales Collapse Ahead
- Much worse numbers expected after U.S. reporting Wednesday
- Morgan Stanley’s summation: ‘basically no U.S. auto sales’ now
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A year that started off well for the U.S. auto market, with only a subtle down shift expected following years of strong demand, is suddenly shaping up to be a disaster.
The coronavirus pandemic has disturbed the virtuous blend of lofty consumer confidence and low interest rates that buoyed sales in January, February and even early March. Analysts are now all over the map for how low sales will go, with virtually no one expecting a speedy recovery.