Some May Auto Sales Show Early Signs of Recovery

Daniel Miller, The Motley Fool
Some May Auto Sales Show Early Signs of Recovery

The U.S. automotive industry has been hard hit from the top down during the pandemic as manufacturers temporarily idled plants, suppliers were left with an uncertain schedule, and retailers suffered from social distancing restrictions and plunging foot traffic. Hyundai's U.S. sales declined 13% year-over-year during May as the novel coronavirus continued to negatively impact showroom traffic, but that sales result was a huge improvement from April's 39% decline. Hyundai's data also showed strength in crossover vehicles, compared to passenger cars: Hyundai's car deliveries declined 44% while its crossover sales increased 12%.