Automakers, analysts trim 2017 auto sales forecasts
Thursday June 29, 2017
Automakers and analysts are trimming 2017 forecasts for sales of new vehicles because of slower-than-predicted demand, though many expect sales to pick up in the last half of the year.
Cox Automotive, which hosted a 2017 mid-year review in Detroit on Wednesday, estimates 17.1 million cars and trucks will be sold in the United States in 2017, followed by a drop to 16.7 million in 2018.
The forecast for this year is down 2.5 percent from a record 2016, when automakers sold 17.55 million new cars and trucks in the United States. Cox Automotive, which owns websites such as Kelley Blue Book and Autotrader and other companies, earlier in the year predicted sales would be 16.8 million and 17.3 million.