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Amid global pandemic, IHS sharply lowers 2020 global light vehicle sales forecast

IHS Markit, which tracks automotive sales and production trends, sharply lowered its 2020 forecast for global light vehicle sales in response to COVID-19 pandemic, warning that the US will take the biggest hit.

IHS expects global light vehicle sales to fall 22% from prior estimates of more than 12%.  In the US, IHS expects auto sales to fall 26.6% compared with a year earlier.

IHS estimates global light vehicle production to drop 21.2%.

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