The exact shape of a potential recovery is still unclear as automakers from Volkswagen Group to Fiat Chrysler Automobiles prepare to announce results for what likely will be a devastating second quarter.
In the U.S., Ford forecast a $5 billion loss for the three months through June.
The industry is hoping that consumers will drive an improvement this summer by turning to cars for their holidays instead of flying to far-away destinations. U.S. customers bought SUVs and trucks in droves in May, spurring a sales rebound.
Another positive signal is coming from China, where car sales rose for the first time in almost a year last month. The region has become a focus for European automakers, who are hoping better business there will make up for muted registrations at home.
Despite the rebound, European sales through May have dropped 43 percent, in a sign that a recovery will take some time.
Registrations in the region are forecast to decline by as much as a fifth in 2020, according to Bloomberg Intelligence's Michael Dean.