Top analysts are predicting a downturn in US auto sales not seen in fifteen years. Industry-wide sales are expected to remain flat or decrease slightly - but Toyota says it sees growth next year. Regardless of how Toyota fares, a downturn in the U.S. market is hard on the entire auto industry, since it’s the single biggest market in the world.
A weakening dollar and the sub-prime mortgage troubles in the U.S. are the main contributors to the pessimistic auto sales predictions made by three top industry analysts. The most pessimistic predictions see total auto sales falling to just 14.5 million in 2008, reports Reuters - the lowest level since 1993, at the tail end of the last major economic recession. Other, slightly less pessimistic predictions still see a decrease in U.S. sales of three to five percent, with total sales to fall to around 15.5 million vehicles.
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