HOT WIRE: Auto Industry Outlook for 2021
Auto Industry Outlook for 2021
The most recent three months of North America light vehicle production were 8.0% below last year. Production cratered earlier this year, grinding to a halt in April, which posted a contraction of 99.2% relative to April 2019. However, monthly production subsequently rose through August, coming in 5.2% below August 2019. While a recovery trend is expected imminently, a significant pick-up in production isn't expected until mid-2021.
A slow recovery is expected given the overhang of high delinquency rates stemming from previously issued long-term and subprime loans. However, favorable trends are developing in monthly US light vehicle retail sales, which were up 6.1% compared to September 2019. September was the first month with year-over-year growth since the shutdowns began in March. Upward momentum in retail sales.... [read more]
Also in this Issue
- Readers' Forum
- A Closer Look: The US Economy
- ...and more!