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Posts Tagged ‘NADA sales prediction’

Industry Experts Expecting A “Strong” Year for 2018

Trucks will continue to dominate the market.

by on Dec.04, 2017

NADA Chairman Mark Scarpelli believes 2018 will be a strong year, adding that he'd be happy with anything more than 16 million units in sales.

The National Automobile Dealers Association expects new vehicle sales to decline in 2018.

In a forecast released Friday, NADA predicted the sale of 16.7 million new cars and light trucks. The NADA forecast for 2018 was lower than the 17.1 million units of sales predicted by the University of Michigan’s annual economic forecast, which also predicted the U.S. economy would grow by 2.5% next year.

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“We expect 2018 to be a robust year,” said NADA Chairman Mark Scarpelli, a Chicago-area car dealer. “NADA’s 2018 auto sales forecast is indicative of a stable, healthy market for new vehicles,” he added.  (more…)

NADA Predicts Sales Hit New High in 2016

Growth restricted by lower income of Millennials.

by on Aug.05, 2015

Past NADA Chairman Forrest McConnell said that increased regulations will cause car prices to rise, and ultimately, choke sales.

Sales of new vehicles will continue to inch upwards through 2016, but could ultimately be limited by the diminished purchasing power of the younger “Millenial Generation,” according to economists from the National Association of Auto Dealers.

Sales of new cars and light trucks will continue their post-recession climb, reaching an all-time high of 17.46 million vehicles in 2016, said Steven Szakaly, chief economist of the National Automobile Dealers Association, predicted during a panel discussion at the Center for Automotive Research’s annual conference near Traverse City, Michigan.

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Szakaly predicts new-vehicle sales of 16.65 million units in 2017, which represents a fairly steep decline year over. On the plus side, employment is doing very well, which is critical to new- and used-car sales, and we expect gasoline prices to continue to remain low,” Szakaly said. (more…)