U.S. Auto Sales Poised for Crash After Slowest Pace in a Decade
- GM, Fiat trail analysts’ estimates for the first quarter
- Slumping Nissan posts 30% plunge in sales year-to-date
General Motors Co. Chevrolet Colorado trucks are displayed at a car dealership in Tinley Park, Illinois.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Carmakers gave an early glimpse of the damage a global pandemic is doing to the U.S. auto market, with General Motors Co. and Fiat Chrysler Automobiles NV falling short of estimates and the industry selling vehicles at the slowest pace in a decade.
Sales fell 7.1% for GM and more than 10% for Fiat Chrysler in the first three months of the year, both bigger declines than expected. While neither company provided a breakdown by month, demand collapsed midway through March. Brands including Volkswagen, Honda, Hyundai and Mazda reported drops of more than 40% for the month.