Car buying is a process that can take you days, months, or even years. The urge to buy one depends on the situation. However, the current state of the economy made it a bit complicated for car buyers who are now looking for ways to save and yet purchase their dream cars.
In CNBC, the Consulting firm AlixPartners estimate due to the lockdowns, whole timeline, and auto factory restarts. The sales market for new cars lower by roughly 3.5 million vehicles over year, The expectation is to drop off at 36 million the latest vehicle sales globally through 2022, compared to 2019 levels. In the U.S. market, it forecast a sales market for new cars lower by roughly 3.5 million vehicles year over year, with that outlook dependent on the recession not becoming prolonged. Automakers, including General Motors, have become more optimistic in commentary since the Q2 Covid-19. Even before Covid-19, the used car market was more than twice the size of the new car sales market.
