CBJ — First-quarter sales were down 10% at Fiat Chrysler Automobiles in the U.S. as demand was lowered due to the fast-spreading COVID-19 virus.

Shares of the company dropped more than 4%.

Moody’s Investor Service projects auto sales will decline 14% this year, with light-vehicle sales dropping 15% in the U.S.

Percentages here in Canada are expected to be similar.

@CanBizJournal