With all major markets showing signs of recovery, J.D. Power said Wednesday it is forecasting April U.S. retail sales of 500,000 to 613,000, or a decline of 43 percent to 54 percent from its pre-virus forecast, representing an overall volume decline of 472,000 to 585,000 from April 2019.
As state restrictions on vehicle sales are relaxed, more manufacturers are enticing consumers to come back into the market with elevated discounts, J.D. Power said.
The best-performing major segment has been large pickups, while compact cars have been hardest-hit, J.D. Power said.
Overall, combined sales in the top five vehicle segments, which represented 60 percent of U.S. retail deliveries in 2019, dropped 46 percent from the pre-virus forecast during the week ending April 19.
May, traditionally one of the biggest months for sales, is shaping up to be critical for the auto industry, with several states relaxing stay-at-home restrictions amid pent-up consumer demand.
“Sales to shoppers who…
