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Financial Focus: Car industry took hit but not as bad as expected

Posted at 9:00 PM, Dec 28, 2020
and last updated 2020-12-29 00:00:59-05

LAS VEGAS (KTNV) — In today's Financial Focus, we have a check of the stock market and the stocks with ties to Las Vegas.

The car industry took a big hit at the beginning of the pandemic but it appears to be making a comeback.

LMC Automotive America expects new car sales to hit 14.5 million this year compared to 17 million last year.

Many car companies reported 40% drops in business early in the pandemic.

But many experts say this year's decline could have been a lot worse.

Experts say the pandemic allowed people to save money by skipping on big vacations and putting it toward a vehicle.

Financial Focus is sponsored by Clark County Credit Union. Watch it weekdays on 13 Action News.