Filed under: Earnings/Financials
The collapse of air travel has pushed big car rental companies to cancel orders for new vehicles, punching a hole in sales for nearly a dozen U.S. automakers' including the Big Three in Detroit. Hyundai Motor Co's U.S. sales arm said Tuesday that its sales to fleets, including rental companies, fell by 79% in May, while retail sales grew by 5%. Automakers could lose up to 12% of their annual U.S. vehicle sales in 2020 as car rental companies slammed by the coronavirus pandemic slash fleets and
Continue reading Rental fleets' cancellations drag down otherwise promising U.S. vehicle sales
Rental fleets' cancellations drag down otherwise promising U.S. vehicle sales originally appeared on Autoblog on Tue, 2 Jun 2020 20:12:00 EDT. Please see our terms for use of feeds.
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