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Jonathan Smoke makes 2018 prediction

Economists expect sales of used cars to rise in ’18

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Article Highlights

  1. U.S. new-vehicle sales will decline in 2018, but used-vehicle volume will grow 2 to 5 percent next year, economists said last week.
  2. The used-vehicle industry can expect a strong general economic climate but will face continued challenges of shrinking margins, lower vehicle prices, disruptive technologies and political and regulatory uncertainty.
  3. Jonathan Smoke, Cox Automotive's chief economist, estimated that 39 million used vehicles will be sold in 2017, including private sales from one individual to another. He predicted a 2 percent increase in 2018.

U.S. new-vehicle sales will decline in 2018, but used-vehicle volume will grow 2 to 5 percent next year, economists said last week.

The added used volume should help franchised dealers offset lower new-vehicle sales, but independent dealers face greater competition for inventory, a panel of economists told the combined Used Car Week conference and National Auto Auction Association convention here.

The used-vehicle industry can expect a strong general economic climate but will face continued challenges of shrinking margins, lower vehicle prices, disruptive technologies and political and regulatory uncertainty, the panelists agreed.

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