From Car and Driver
Third-quarter new-vehicle sales are down from last year, but are up from the quarter prior, revealing what appears to be a V-shaped recovery in the industry.
FCA, Toyota, and General Motors are all showing sales declines of around 10 percent for the third quarter, but that’s a dramatic improvement from declines of over 30 percent last quarter.
Hyundai saw sales increase in September by 5.5 percent, while its sales were down 1.7 percent in the third quarter.
As automakers begin to report third-quarter sales, one thing is becoming clear: the worst sales forecasts have been avoided, and new-vehicle sales are trending upward from their lows earlier this year. New-vehicle buyers haven’t left the market—a reality in line with the more uneven K-shaped recovery many economists have been reporting—and that has helped propel the recovery in sales.
Since the first quarter