New Report Says US auto sales to narrowly reach new high in 2016

DETROIT: US auto sales will narrowly reach a new record this year, topping last year’s by a mere 5,000 vehicles, despite a 2.2 per cent decline this month from a year earlier, industry consultancies JD Power and LMC Automotive said on Thursday.

For 2017, JD Power and LMC said sales will remain robust, but dip about 25,000 vehicles, ending at between 17.4 million and 17.5 million vehicles.

The forecast for another near-record year in 2017 comes even as major US manufacturers General Motors Co and Ford Motor Co have announced production slowdowns early in the year. Also, GM has said it will lay off about 3,000 US auto workers at plants where the company is cutting shifts.

Consumer discounts will show a record high of more than $4,000 per auto this month, when sales will be 17.5 million vehicles on a seasonally adjusted annualized basis, the consultancies said.

The December forecast shows an expected rise of about 16 percent from November.

In 2015, US sales were 17.39 million vehicles, according to WardsAuto and 17.47 million, according to Autodata. The two consultancies differ on the number of large trucks they include in the “light vehicle” sales figures they report.

Sourece: http://timesofindia.indiatimes.com/business/international-business/us-auto-sales-to-narrowly-reach-new-high-in-2016-says-report/articleshow/56127222.cms