Mar
19
2008
American auto industry bracing for ‘worst year in decade’
Posted by: Chainsdraging in Auto Manufactures, tags: , auto industryIndustrywide U.S. auto sales fell 2.5 percent to 16.15 million vehicles in 2007, the lowest level in a decade. Analysts and industry executives expect further declines in 2008, especially in the first half of the year.
J.D. Power and Associates on Tuesday revised its forecast for 2008 U.S. light vehicle sales to 14.95 million vehicles, down from its earlier estimate for 15.7 million.
Press said: “It’s a challenging economy. The market is facing choppy waters. The entire industry is facing headwinds.”
