To underscore the level of concern within the industry, Adam Jonas, an analyst with Morgan Stanley Research who estimated that sales could fall by a million vehicles this year, said lawmakers should consider reprising the recession-era Cash for Clunkers program as a “powerful tool” to stimulate sales.
“Given the behavioral and economic implications brought on by social distancing, we are preparing for potentially significant swings in U.S. SAAR,” he said, while noting “there may be a number of other alternatives lawmakers could use to help revive critical industries such as autos if necessary.”
Last week’s decision to postpone the New York auto show from April to August was among the first major disruptions to the North American auto industry related to the virus. It already had forced the cancellation of this month’s Geneva International Motor Show and next month’s Beijing show.
John LaSorsa, who chairs the auto show committee for the Greater New York Automobile Dealers…