- Fundamentally, how the economy is performing is directly correlated to the sales, and next year’s growth is likely to be similar to this year’s if not slightly better.
- Consumer confidence is directly correlated with the unemployment rate, and confidence is strong – remaining near a 16-year high.
- The demand for autos has been stronger than consumer confidence suggests, though it doesn't appear that vehicle demand is growing as consumer confidence continues to grow. Instead, there appears to be a leveling.
The economy is chugging right along, which bodes well for the automotive industry. In this video, Jonathan Smoke, Cox Automotive’s Chief Economist, provides a current and future economic overview.