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Automotive Rapid Response Report - 13 May 2020

13 May 2020

As the COVID-19 pandemic continues to unfold, IHS Markit offers uniquely actionable, rapid insights to drive your business. Insights powered by the most up-to-date information available provide critical intelligence to inform near-term planning and longer-term strategic decision making. Download our weekly Rapid Response Report to get real-time market feedback on specific market actions that will help you get a step ahead and help determine which actions to take next.

An 18% week-on-week (w/w) decrease in national registration volume coming off the April sales close

  • A 25% w/w decline across all pickup segments, pickups were a considerable highlight in April with a positive year-on-year (y/y) trend in performance
  • April concluded with a 3% month-on-month (m/m) decline across pickup segments, resulting in a 1% y/y decline
  • Starting in May, several OEMs de-escalated finance incentives from 0% for 84 months to 0% for 72 months as inventory pressure dissolves

A 20% w/w decrease observed across the Midwest cooperative manufacturing states

  • A 3% w/w increase in Michigan, momentum continues as manufacturing plans are solidify and employees are heading back to work
    o An 18% w/w decline in the high-volume non-luxury SUV/CUV segments, segments previously with strong weekly gains through April

As manufacturers continue to work through their recovery plans and some new models are delayed, this will have an impact on vehicle showrooms—extending existing models and influencing incentives and marketing initiatives.

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