J.D. Power scales back 2011 auto sales forecast

By Reuters
Posted Oct. 21, 2010 at 12:38 p.m.

J.D. Power and Associates Thursday cut its forecast for 2011 U.S. total light vehicle sales, based on a slower economic recovery than expected.

Next year’s total light vehicle sales forecast was cut to 12.9 million vehicles from 13.2 million.

“Gross domestic product in 2011 is now expected to grow at the same rate as in 2010, approximately 2.5 percent,” said J.D. Power.

The marketing information firm also cut its sales forecast for 2010, to 11.5 million vehicles from 11.6 million.

That would still be an improvement over the 27-year low of 2009 when 10.4 million new vehicles sold in the United States.

J.D. Power’s October forecast for U.S. sales is 11.9 million vehicles, which would be the best sales month on an annualized basis this year.

Read more about the topics in this post:
 

Companies in this article

Comments are closed.