Mark Wakefield
Partner & Managing Director, Detroit
The US automotive industry has been enjoying some of its best years ever. However, our latest forecast predicts new-vehicle sales will likely drop meaningfully in 2018 and by more than 2 million units by 2019 versus 2016. One big reason? Increased used-vehicle sales will likely deflate the market.
At a glance
- New-vehicle sales are likely already past peak.
- Years of high used-car prices following the recession sowed the seeds for a coming dip in new-car prices.
- Automakers need to make courageous decisions now to prepare for the coming sales decline.
