With Eyes on Vaccine, Automakers Expect 2021 Sales Increase
Jan. 15, 2021—Across the country vehicle sales have declined, but the industry has hope that with the rollout of the COVID-19 vaccine could return them to normal in 2021.
Early forecasts for this year project 15 million to 16 million new vehicle sales, which would provide an increase of 7 percent 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.
Toyota recently predicted 16 million vehicle sales industry-wide in the U.S. for 2021, while General Motors is expected to release its forecast in the coming weeks.