Automotive research and forecast firms expect sales declined about 1% last year to roughly 17 million vehicles sold.
Research and forecast firms Cox Automotive and J.D. Power/LMC Automotive expect sales declined about 1% last year to roughly 17 million vehicles or less compared with 2018.J.D. Power estimates consumers spent a record $462 billion on new vehicles in 2019, up $8.4 billion from 2018.DETROIT – Americans are expected to have bought fewer new vehicles last year than in recent years but spent a record amount on those new cars and trucks.
Research and forecast firms Cox Automotive, Edmunds and J.D. Power/LMC Automotive expect sales declined about 1% last year to roughly 17 million vehicles compared with 2018. Such results"Despite a lot of noise and some uncertainty with light-vehicle sales, 2019 has turned out to be a strong year," Jeff Schuster, LMC Automotive president of the Americas and global vehicle forecasts,
"Much of that uncertainty has dissipated with USMCA nearly across the finish line, the progress with the China trade deal and an economy that is expected to be supportive."consumers spent a record $462 billion on new vehicles in 2019. That's up $8.4 billion from 2018 and marks the first time such spending has exceeded $460 billion, according to the firm.
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