Light Vehicle Sales to Dip Slightly Next Year
Light vehicle sales will drop 1.2% next year, according to the National Automobile Dealers Association's (NADA) annual new vehicle sales forecast.
"We expect new light vehicle sales will come in at 16.8 million units," says NADA Senior Economist Patrick Manzi. "As for 2019, it appears new vehicle sales will best the expectations of most in the industry by topping 17 million units for the fifth straight year."
Light trucks are on track to account for more than 70% of overall new light vehicle sales in 2019. Cars will account for less than 30%.
By the end of 2020, NADA predicts that three of every four new vehicles sold will be light trucks, "a significant increase from a decade ago, when the new vehicle sales mix was 48% light trucks and 52% cars," according to NADA officials.