Dismal Year Is Forecast for Car Sales |
| New York Times - Mar 20, 2008 |
The American auto industry is bracing for what may be its worst year in a decade.
Several industry forecasters have sharply cut their projections for new-vehicle sales to less than 15.5 million this year, and abandoned rosy predictions for a rebound in the second half.
The gloomy outlook —reflecting credit turmoil, the housing crisis and the softening economy — will probably lead to more production cuts by car companies. But the good news for buyers is that they can expect better deals to draw them into the showroom.
The broader economic woes prompted the marketing firm J. D. Power & Associates to cut its annual forecast to 14.95 million vehicles, from 15.7 million — the lowest sales level since 1995.
Read Full Article from New York Times
- Posted: 2008-03-20 08:07:38
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