LMC Automotive has revised its forecast for U.S. auto sales for the 2016-2023 periods. The company expects nearly 250,000 fewer units will be sold each year during that timeframe, with a larger reduction occurring between 2016 and 2017.
Despite the average retail transaction price rising more than 3%, the NADA’s chief economist believes that future auto sales will continue to be backed by strong economic tailwinds.
Lease registrations have improved by an annual average of 18% since 2011, according to the NADA’s most recent installment of its Used Car Guide Perspective report.
At the NADA /J.D. Power Western Automotive Conference this week, NADA Chief Economist Steven Szakaly predicted that new-car and light truck sales will hit 16.94 million units in 2015.
Edmunds expects January sales to drop 23.6% from December and 0.6% from January 2013. But the vehicle information site expects sales to pick up in February when the bad weather clears.
Paul Taylor, chief economist of the National Automobile Dealers Association, said 2012 will be another rebuilding year for the industry, and predicts sales will reach 13.945 million units this year.
Kelley Blue Book analysts project January new-vehicle sales to pace at a 13.2 million seasonally adjusted annualized rate, and lists the European debt crisis and heightened tensions with Iran as threats to industry sales this year.
Fitch Ratings said it expects the financial profiles of U.S. automakers and parts suppliers to remain strong in 2012 despite sluggish global economic growth and weaker-than-expected North American light-vehicle demand.
The Detroit 3 auto manufacturers held a key inventory advantage over their competitors, which led to higher U.S. new-car and light-truck sales in December, according to Paul Taylor, chief economist of the National Automobile Dealers Association (NADA).
A sales forecast by Edmunds.com indicated that an estimated 13.6 million new cars and trucks will be sold in 2012.
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