During this quarter, retail sales recovered much more quickly than fleet sales from the effects of the COVID-19 pandemic.
New light-vehicle sales in June improved compared to May but remain down significantly compared to this time last year.
Fleet sales were down year-over-year by a whopping 72% in May, while retail sales only fell by 17%.
New light-vehicle sales showed signs of recovery in May, with a SAAR of 12.21 million units.
The April SAAR represents a drop of 47.6% compared to April 2019. Yet many industry watchers believe auto sales have bottomed out and are showing signs of recovery.
“It’s times like these that remind us what really matters most: our families at home, the people we see every day at work, our neighbors and our communities–the people who rely on us year after year to be there for them.”
As the first quarter of 2020 has come to a close, the National Automobile Dealers Association (NADA) issued an analysis of U.S. auto sales and the economy, including the initial impact of the COVID-19 pandemic on both.
Even as they are operating in a challenging environment where customers and employees are staying home and the rules of operation change every day, auto dealers across the country are pitching in and doing their best to help their communities weather the pandemic.