VWAGY - U.S. Auto Industry Outlook improving in 2021; EVs coupled with challenges

U.S. auto sector received an improving 2021 outlook from Fitch ratings indicating the rating agency's expectation of an improved 2021 economy vs. the pandemic struck 2020.Despite improvement, 2021 sales are expected to be ~8% below 2019 levels.U.S. light vehicle sales are seen up ~10% to 15.6M from its forecast of 14.2M for 2020.IHS Markit estimates:Fitch assumes that although a vaccine becomes widely available by mid-2021, sales will not return to 2019 levels until 2022 at the earliest.Majority of the Fitch-rated U.S. auto-related issuers have negative outlooks but with an improving macro environment in 2021 significant number of downgrades is unlikely, and Fitch could revise some outlooks to Stable during the year.With improving demand environment, auto industry remains under pressure due to other secular factors: tightening emissions regulations in many global markets, especially China and Europe, are rapidly accelerating the pace of vehicle electrification.With EVs on a rampage in the auto sector

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U.S. Auto Industry Outlook improving in 2021; EVs coupled with challenges