The expansion U.S. economy next will boost sales of new vehicles and set the stage for industry-wide sales, reaching 17 million units in 2016, according to a new forecast the economists at the University of Michigan.
The economy will grow by more than 3% next year — its highest rate in 10 years, they added. The university auto sales numbers of 16.6 million in 2015 and 17 million the following year add to the chorus of predictions for a sustained stretch of prosperity for the industry.
By and large, automakers appear comfortable with the predictions of strong, steady sales over the next couple of years. (more…)