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Automotive Rapid Response Report - 3 June 2020

03 June 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.

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  • A strong 91% month-to-date (mtd) increase as May concludes in national retail registration volume, representing a greater than 500,000-unit improvement
    • Non-luxury crossover utility vehicle (CUV)/sport utility vehicle (SUV) segments improved 111% mtd, representing 48% of the national volume improvement.
    • Non-luxury cars almost doubled in volume mtd with 95% improvement, contributing 20% of the national volume increase.
    • Pickup segments improved 53% mtd, 15% of the national volume improvement.
  • 110% improvement in mtd performance for May in the top 10 retail volume states, highlights include:
    • 113% improvement mtd in California, largest volume increase across all states with over 62,000 units.
    • 209% improvement mtd in New York, volume increase of over 40,000 units.
    • 75% improvement mtd in Florida, volume increase of over 40,000 units.
  • As states continue to lessen their restrictions, we expect the positive registration momentum to continue with many manufacturers reducing summer downtime to increase production capacity
    • Focus will shift to identifying and addressing inventory shortfalls on fast-turning, high-margin vehicles.

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