plunging

Car sales are plunging in the US because of coronavirus

Fiat Chrysler (FCAU) announced Wednesday that its first-quarter sales in the United States fell by 10% even though sales were up the first two months of the quarter.

“Strong momentum in January and February was more than offset by the negative economic impact of the coronavirus in March,” said the company.

General Motors (GM) reported a 7% drop in sales for the quarter, which it attributed to the sharp decline in March sales because of the virus outbreak.
Neither company would release the month-by-month sales figures. But Toyota (TM) reported results for both March and the quarter. Its daily sales pace plunged 32% in March, while its overall sales in the month fell 37%, hurt in addition by one fewer sales day in the month. Overall, its first-quarter sales fell 9%, similar to the declines reported at Ford and GM. So it’s possible that
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