[URL unfurl="true"]https://www.cnbc.com/2020/03/16/rbc-warns-coronavirus-could-cause-20percent-decline-in-us-vehicle-sales.html[/URL]
[URL unfurl="true"]https://www.reuters.com/article/us-health-coronavirus-autos-morgan-stanl-idUSKBN20Y2OK[/URL]
Coronavirus Wrecked China's Car Sales, and America Is Probably Next
How the pandemic's supply chain disruptions and chilling effect on car buyers could spell trouble for U.S. auto sales.
[URL unfurl="true"]https://www.motortrend.com/news/uber-lyft-drivers-coronavirus-information/[/URL]
Buyers Staying Home
It may not matter, though, if customers stay home. Individual outbreaks and precautionary measures like bans on large gatherings across the country will keep potential car buyers out of showrooms. Dealers in affected areas are already reporting lower foot traffic. Even areas not yet touched by the coronavirus are seeing smaller crowds at dealerships as people avoid public areas and practice social distancing.
More than just a fear of catching the virus, many people are likely to put off a major purchase over economic uncertainty. After all, a car is the second-most expensive purchase the average person makes in their life behind a house. While the economy hasn't crashed as of this writing, Wall Street has had several of its worst days on record in just the past week and the cancellation of major festivals and sporting events will have a noticeable economic impact. With a great deal of uncertainty over the state of the economy, consumers are likely to keep their money in savings until things get better, just as they did during the Great Recession. If people start losing their jobs or the country falls into a serious recession, it will only exacerbate the downturn in car sales.
