A recession won’t affect U.S. auto dealers and manufacturers until the 12- to 18-month range, says Jonathan Smoke, chief economist-Cox Automotive.
The NADA issued its prediction for vehicle sales this past weekend, saying rising home values, residential construction and employment will boost U.S. light vehicle sales to 16.4 million units in 2014.
Steven Szakaly has been named the new chief economist at the NADA. He brings more than 10 years of forecasting and industry analysis experience.
The NADA’s Paul Taylor predicted at the association’s annual conference that the industry will deliver more than 15.4 million new vehicles this year, as the average age of vehicles and an improving economy are expected to drive a million-unit increase from 2012.
The NADA’s chief economist predicts that auto dealers will retail one million more vehicles than they did in 2012, and offers seven reasons for his positive outlook.
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