The coronavirus pandemic pushed UK car sales in 2020 down to the lowest level since 1992, the biggest annual slump since the second world war despite surging sales of electric cars, according to industry data.
Sales fell by 29% during the year to about 1.63m, preliminary figures from the Society
General Motors said its vehicle sales in the United States fell 12 percent in 2020, but increased 5 percent in the fourth quarter from the same period a year earlier, a hopeful sign for the auto industry at the end of a difficult year.
The automaker reported solid performances from
Although sales of passenger vehicles (PVs) and two-wheelers grew in December as also in the October-December quarter, April-December saw virtually every segment of
“When you look back to where we were in March and how dismal things looked, it’s incredible how strong the year ended,” said Michelle Krebs, senior analyst at AutoTrader.
GM made the announcement Tuesday alongside a release of its own fourth-quarter sales figures.
A drop-off in auto sales usually sends incentives soaring and profits plummeting. Not in 2020, amid the biggest one-year decline in U.S. light-vehicle sales since the Great Recession.
Instead, tight inventory levels resulted in smaller discounts and a stronger bottom line for many automakers and dealers. In December alone, the
Several auto makers reported relatively brisk U.S. sales to finish 2020, stoking optimism the car business this year can continue its climb back from the Covid-19 crisis.
General Motors Co. said Tuesday that fourth-quarter sales rose 4.8%, GM’s only quarterly increase of 2020. Toyota Motor Corp. said its sales in … Read More