Cars, which have become also-rans in a U.S. automotive marketplace dominated by SUVs and pickup trucks, could make a comeback if times get tough, says Charlie Chesbrough, Cox Automotive’s senior economist.
He’s not predicting a recession anytime soon. But the U.S. has seen the longest expansion of economic growth in modern history. That’s bound to eventually give, he tells Wards.
If the economy goes seriously south and consumers consequently become more price-conscious out of hard-luck necessity, they may pivot and make cars rather than fullsize SUVs and pickups their vehicle of choice, he says at a Cox industry event here.