Wes Lutz in Detroit, October 2018.
The trade group the National Automobile Dealers Association says, “We’re forecasting sales of 16.8 million new cars and light trucks in 2019.” That came from a conference call that AutoInformed participated in. Patrick Manzi, NADA senior economist, says, “this would represent a falloff in sales of about 1.1 percent compared to 2018.” (FCA Auto Dealer Wes Lutz 2018 NADA Chair, Gutting Consumer Finance Protection Bureau Hurts Auto Biz and Beware of Self Interest in Mobility Promotion says NADA)
Based on a strong November, new-vehicle sales are expected to reach 17 million units in 2018, which would mark the fourth straight year of U.S. auto sales above 17 million units. (see AutoInformed:Auto Loans – Payments Higher, Subprime Lending Lower. The Federal Reserve Board is likely to raise rates in December 2018. More rate increases are likely during the early half of 2019 and then rates are expected to hold.) Continue reading
No Deal Brexit to Cost UK Auto Sector £9 Billion Per Year
“The impact on the vehicle market would be greater than for the UK economy”…
It’s not only angry Trump voters who are self-destructive, the UK under the Brexit fiasco is about to lose £9 Billion a year due to a conservative Republican-like temper tantrum that will materially hurt middle class workers, as well as society as a whole. (‘Bloody Hell,’ What Does Brexit do to Automakers?, Brexit Automaker Winners, Losers – Predictable and Surprising, Brexit Panic Takes Hold. Auto Industry Urges – Begs? – Negotiators to Avert the Business Killing Worst-Case Scenario)
Our friends from the LMC Automotive consultancy write that the impact of two different Brexit scenarios on light vehicle sales and production in the UK could produce devastating results. Worst case: A no-deal Brexit could cost the UK automobile market some £9 billion (€10 billion) in annual revenue, according to their research. Continue reading →