The Word: “Uncertainty”

“Uncertainty seems to be the buzz word for the auto industry right now, even if the causes change. While we expect the light vehicle market to decline further in 2020, the factors that play a part in that decline are numerous. The coronavirus is not expected to have an immediate effect on sales in the U.S. but its effect on the global supply chain and production puts every global manufacturer and the global economy potentially at risk. A slowing U.S. economy and higher transaction prices are already contributing to the headwinds.”

--Jeff Schuster, President, Americas Operations and Global Vehicle Forecasts, LMC Automotive

LMC anticipates the 2020 outlook for total light-vehicle sales will be 16.8 million units, a decline of 1.1% from 2019. Retail light-vehicle sales in 2020 are also expected to decline by 1.5% to 13.5 million units. Fleet share of total light vehicles is expected to hold at 19.5%, consistent with 2019.