Auto Dealers Lose $2.6B in Two Months

Auto and truck dealerships lost $2.6 billion in potential profits from the beginning of March through the start of May, says a recent J.D. Power report.

Customer purchases were down $41.3 billion during the period, with new-vehicle purchases dropping $26.3 billion and used down $15 billion. Sales dropped by 36 percent for the combined categories.

The sales declines hit their peak in the last week of March, when they dropped 59 percent, though they are gradually improving, with a 31-percent sales dip for the first week of may.

Read the full J.D. Power report.