With Vaccine, Automakers Expect 2021 Sales to Increase
Jan. 15, 2021—Across the country vehicle sales are declining, but the industry has hope that with the rollout of COVID-19 vaccines, sales could return to normal in 2021.
Early forecasts for this year project 15 to 16 million new vehicle sales, which would provide an increase of 7 to 10 percent compared to 2020's vehicle sales, reports CNBC. Last year, vehicle sales were down by almost 15 percent with only 14.5 million vehicles sold, notes the article.
Toyota recently forecasted 16 million vehicle sales in 2021, and General Motors is expected to release its forecast in the coming weeks.