Automakers tout consumer ‘resilience’ despite COVID-19 hit to U.S. auto sales

Investing.com | Jul 1, 2020 at 2:00 AM
  • Major automakers posted lower U.S. monthly or quarterly new vehicle sales on Wednesday due in large part to weak fleet orders, but said consumer demand remained robust despite the ongoing coronavirus pandemic.
  • The disease caused by the new coronavirus, fleet sales to rental car companies, corporations and government agencies have dragged overall sales down.
  • Hyundai Motor Co (KS:005380) said that while its overall sales fell 22% in June, sales to consumers rose 6% versus June 2019, while its fleet sales plummeted 93%.