Forecast: New-car sales to rise
“Rising employment and wages, continued low interest rates and lower gasoline prices all signal an increase in new light-vehicle sales in 2015,” NADA Chief Economist Steven Szakaly said last week at a press briefing ahead of the NADA / J.D. Power Western Automotive Conference in Los Angeles.
“The economy will continue to build on the solid growth established in 2014, and we also expect the fundamental conditions to improve in the year ahead,” he added. “Gross domestic product will grow at 3.1 percent in 2015, with the potential for growth to exceed our forecast.”
Szakaly added that new-car sales rising above 17 million units in 2015 would require a ramp up in incentives and an increase in new-car purchases by millennial shoppers above what has occurred over the past two years.
You can read NADA’s full report here.