New light-vehicle sales fell sharply in April to a SAAR of 8.6 million units, the lowest monthly selling rate in almost 30 years.
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May 6, 2020
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NADA Market Beat: April 2020 SAAR Falls to 8.6 Million Units

New light-vehicle sales fell sharply in April to a SAAR of 8.6 million units, the lowest monthly selling rate in almost 30 years. The April SAAR represents a drop of 47.6% compared to April 2019, with declines across the country. Yet many industry watchers believe auto sales have bottomed out and are showing signs of recovery. Those states where there were fewer restrictions on selling vehicles tended to outperform markets that banned all vehicle sales outright or where online sales were allowed with home delivery. And while certain states restricted any vehicle sales whatsoever for the first part of April, online vehicle sales were finally allowed nationwide by the end of the month. 
Source: NADA

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– Roger Penske, Penske CEO, in a statement announcing the company’s first quarter net income, Automotive News, May 6

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