Buyers are returning to dealers, but sales are still way down.
Maskot/Getty ImagesIt's hard to believe, but the second quarter of the year has come to a close. For automakers, it wasn't great news when it comes to sales, as you might expect.
As more automakers release their Q2 results, we'll update this story and include them below. So far, Fiat Chrysler Automobiles and Hyundai have reported their results.
Fiat Chrysler Automobiles
The US automaker saw sales decline by 39% year-over-year in Q2. Not a single FCA brand posted a gain, not even crown jewels Ram and Jeep. The truck and SUV devisions posted 35% and 27% sales decreases, respectively. Dodge and Chrysler didn't fare any better. Both brands posted drops, with the former reporting a 63% sales drop and the latter a 58% sales decrease. Fiat was down by 54% and Alfa Romeo reported a 21% decline.
Hyundai
The South Korean brand reported a 24% sales decline in Q2 compared to this time last year. Hyundai did say retail sales grew by 6% in June, which may be a sign that car buyers are starting to return to the market. Fleet sales plunged by 93%, which isn't a surprise noting far lower levels of travel and low rental car take rates. (Hertz filed for bankruptcy in May, for example.)
The big winner? SUVs, of course. The Palisade saw sales grow by 34%, Santa Fe sales increased by 14% and the tiny Kona recorded a 1% sales increase from May to June.
Discuss: FCA, Hyundai report big car sales drops due to coronavirus pandemic
Be respectful, keep it civil and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.