March car sales will drop by 36% compared with March 2019 and decrease in sales from March 2019 and a 23% decrease from February, analysts at Edmunds said in a note Wednesday. They forecast that due to the novel coronavirus pandemic the estimated seasonally adjusted annual rate for March will be 11.9 million vehicles sold. The March downturn will also lead to a drop in quarterly sales, forecasting that 3.5 million new cars and trucks will be sold in the first quarter of 2020 to reflect an 11.8% fall from the first quarter of 2019. Tesla Inc. (TSLA), General Motors Co. (GM), and Ford Motor Co. (F) all traded in the black on Wednesday as the broader U.S. equity markets recovered from earlier weakness.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 25, 2020 11:28 ET (15:28 GMT)
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