Major automakers report biggest drop in sales since 2009 recession

News

Major automakers are reporting their biggest drop in sales since the 2009 recession.

On Wednesday, top automakers like GM and Fiat Chrysler reported a more than 30% plunge in sales during the second quarter.

Car companies have been forced to close dealerships for weeks because of the pandemic, but sales were also hurt by record job losses and limited spending money, as well as work from home policies that temporarily put commutes on hold.

Some credit analysts say it could take several years for the auto industry to recapture its pre-pandemic sales numbers.

Most Popular

Latest News

More News