Four global automakers—Hyundai, Honda, Mazda, and Volvo—reported better vehicle sales in the US in May than the month prior.
Hyundai’s total car sales jumped by 70pc in last month from April, but decreased by 13pc from May 2019. On the other hand, Volvo reported a drop of 2.5pc sales drop in May from the same month last year. The carmaker attributed the low percentage decline to a solid restart plan after the COVID-19 shutdown, as well as the activation of its digital tools platform, which helped process online sales.
Both Honda and Mazda also reported lower sales in May than a year ago but said that the declines were lower than expected, despite the remaining under shutodnw orders through the first half of the month. Mazda’s sales fell by 1pc last month from May 2019, while Honda’s total vehicle sales in the US declined by 16.9pc during the comparable periods.
US Car sales in May 2020 vs. April 2020
|Carmaker||April 2020||May 2020||May 2019|
Most automotive manufacturers have shifted to reporting sales every quarter, and while the overall impact on auto sales in Q2 2020 will likely only be felt by the end of June, the monthly increase in sales reported by these four companies has infused some optimism into a market that was dormant until a couple of weeks ago when pandemic-related shutdowns were lifted.