Mexican Media Brands
U.S. Car Sales Forecast to Grow 2% in 2015
Growth in demand for cars and light trucks in the U.S. will slow from 8% last year to 5% in 2014 and 2% in 2015, predicts LMC Automotive.
#economics
Share
Growth in demand for cars and light trucks in the U.S. will slow from 8% last year to 5% in 2014 and 2% in 2015, predicts LMC Automotive.
Volume will advance from 16.4 million this year to 17 million by 2018 and a record 17.5 million in 2020, chief automotive forecaster Jeff Schuster tells attendees at a Standard & Poor's auto conference in New York City.
A flood of new and updated products will fuel sales growth, LMC says. The firm figures the next three years will bring 36 new models, 75 new nameplates, 200 redesigns and 210 vehicle facelifts to the American market.
S&P expects "robust" car sales into 2015. But it cautions that an eventual rise in interest rates could moderate demand. It estimates that every 1 percentage point increase in interest rates would cut annual car sales by as many as 300,000 units.
RELATED CONTENT
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.