Los Angeles Times via Getty ImagesThe deadly coronavirus pandemic continues to cast a shadow on the U.S. economy and auto sales, probably through at least the first half of 2021, until vaccines become more widely available, according to a forecast from Cox Automotive. “We’re seeing vehicle sales under quite a bit of pressure this month.”In a typical business cycle, it’s a buyer’s market when U.S. auto sales decline, because in a typical business cycle, the auto industry overproduces when sales first start to go down. But in the current cycle, U.S. auto sales are down for the year, and so are inventories, so it’s still a seller’s market. Last year was a record fifth year in a row with U.S. auto sales above 17 million. For 2021, Cox Automotive now expects U.S. auto sales of around 15.2 million.

Source: Forbes December 21, 2020 20:15 UTC