Senior Industry Analyst - Forecasting
Haig focuses on market analysis and future vehicle trends.
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Latest From Haig Stoddard
If the virus-related economic impact extends significantly into the second half, LMC sees more downside to 2021 and stronger risk to recovery in the long term.
Negative economic fallout is expected to heavily spill into the third quarter, meaning a sharp upturn from Q2 to pre-virus demand over the summer is unlikely.
If the economy remains stagnant throughout the third and fourth quarters, U.S. sales could fall to 13 million units, which would closely approximate the hit to North America production.
LMC expects negative economic impacts related to COVID-19 to extend into next year and has reduced the 2021 production forecast to 16.0 million.
Lower interest rates from action taken by the Federal Reserve, and fiscal moves by the government to ease the economic burden on consumers, are not expected to do much for vehicle demand.
This presentation shows Wards Intelligence data and LMC North American sales and production data for the first quarter of 2020.