Major automakers are due to report U.S. sales this week, giving investors a better grasp of the damage from coronavirus containment measures, which have shut both dealerships and factories across the country.
However, since most carmakers have switched from monthly to quarterly reporting, the full extent of the damage will not be revealed until the second quarter release because many stay-at-home notices were initiated in the middle of the month.
Ahead of the reports, market research firmcJ.D. Power forecast that monthly sales alone could plunge by as much as 40% compared to March last year. Drawing on lessons from the downturn in 2008, however, Goldman predicted that latent demand will drive a sharp sales rebound of 25% in 2021 and 13% in 2022.Analysts are also keeping an eye on the carmakers' sales-finance business, which Goldman estimated would generate about 25% of operating profits at Japan's three biggest automakers:
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