IHS Markit, which tracks automotive sales and production trends, sharply lowered its 2020 forecast for global light vehicle sales in response to COVID-19 pandemic, warning that the US will take the biggest hit.
IHS expects global light vehicle sales to fall 22% from prior estimates of more than 12%. In the US, IHS expects auto sales to fall 26.6% compared with a year earlier.
IHS estimates global light vehicle production to drop 21.2%.
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