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No one should live their life in fear, simply because of the color of their skin.

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Rising interest rates, tightening credit offer some concern

Strong 2018 sales expected

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Article Highlights

  1. Rising interest rates and tightening credit are reasons for concern, but shouldn't cause new-vehicle sales to tumble, speakers at the Automotive News World Congress said.
  2. Tightening credit is the most important issue to watch, said Jonathan Smoke, chief economist at Cox Automotive, adding that U.S. car dealers will sell more vehicles this year, but not on the new-vehicle side.
  3. Smoke forecast 16.7 million new vehicles will be sold this year, down from 17.2 million in 2017. But that dip will be offset by a 500,000-unit rise in used-vehicle sales to 39.5 million, he said.

DETROIT — Rising interest rates and tightening credit are reasons for concern, but shouldn’t cause new-vehicle sales to tumble, speakers at the Automotive News World Congress said.

Tightening credit is the most important issue to watch, said Jonathan Smoke, chief economist at Cox Automotive, adding that U.S. car dealers will sell more vehicles this year, but not on the new-vehicle side.

Smoke forecast 16.7 million new vehicles will be sold this year, down from 17.2 million in 2017. But that dip will be offset by a 500,000-unit rise in used-vehicle sales to 39.5 million, he said.

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