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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.
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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.
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