Major auto makers reported sharp drops in second-quarter U.S. vehicle sales, as sweet discounts and financing deals weren’t enough to offset factory and dealership closures from the Covid-19 pandemic. General Motors Co. reported a 34% drop in second-quarter sales compared with a year earlier, with demand picking up in May and June. Toyota Motor Corp.’s sales fell by about one-third, while Fiat Chrysler Automobiles NV reported a 39% decline.

Source: Wall Street Journal July 01, 2020 16:33 UTC