U.S. auto sales expected to fall more than 20%, according to report

U.S. auto sales should fall by 22% in 2020 from a year earlier due to the Covid-19 pandemic, according to a new report from Freedonia Focus Reports. The Cleveland-based research company said the Covid-19 pandemic is expected to reduce the value of U.S. motor vehicle retail sales by 23% from 2019 levels in 2020, and unit sales are expected to decline 22%. Contributing to the 2020 decline in sales, according to Freedonia, are factors including: The ongoing retirement of baby boomers. Later acquisition…