In the first half of 2020, most car manufacturers are seeing decreased sales.
General Motors (NYSE:GM) recorded a 7% decrease in total vehicle sales in the U.S. during the first quarter of 2020 compared to the year-ago quarter, with sales falling 34% year over year in the second quarter. Ford (NYSE:F) saw a 21% decline in wholesales and a 15% decline in revenue year over year in the first quarter, with sales falling by a third in the second quarter compared to the prior-year quarter. Fiat Chrysler (NYSE:FCAU) reported a 15% decrease in revenue in the first quarter compared to the prior-year quarter. Even Tesla’s (NASDAQ:TSLA) second-quarter deliveries fell 4.9% compared to the year-ago quarter, despite the much-awaited opening of its Shanghai Gigafactory.
One reason for the decreased sales is likely lower income from high unemployment numbers. However, another big contributor is the fact that most car sales are made