US light vehicle sales expected to top 16M in 2014 for the first time since 2007
Tire Business reports that multiple forecasting agencies covering the automotive industry expect US light vehicle sales to exceed 16 million units in 2014 for the first time since 2007, bringing to a close an extended period of very difficult restructuring in the US auto industry following the recession. Further, the US auto industry is in stronger shape now than in the pre-recession days, when the industry regularly over-produced and was forced to sell of excess inventory at cut-rate prices. In addition, a significant decline in the number of auto dealerships in the US means that each dealership should be selling more cars.
According to Tire Business, current forecasts for US light vehicle sales in 2014 include the following:
IHS Automotive: 16.03 million – expects sales to remain about 16M/year through at least 2019
LMC Automotive: 16.2 million
Kelley Blue Book: 16.3 million
Edmunds: 16.4 million
Toprack Consulting: 16.5 million
Ford Motor: 16 to 17 million, including about 300K medium- and heavy-duty trucks