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Tuesday, December 26, 2017

US Auto Sales Led By Trucks In 2017

Trucks Top US Auto Sales Charts At 2017 Year End

 

Trucks Top US Auto Sales Charts At 2017 Year End

 

 
Sales of sport utility vehicles were particularly strong this year, according to joint research by J.D. Power and LMC Automotive.
Total light-vehicle sales are expected to finish out 2017 at 17.2 million units, a decrease of 1.9% from 2016, according to joint research by J.D. Power and LMC Automotive, with retail light-vehicle expected to finish the year just below 14 million units – down 1.1% from 2016.

 
Looking forward to 2018, the firms expects total light-vehicle sales forecast to top out under 17 million units, a decline of 1.2% from 2017, while the forecast for retail light-vehicles is 13.8 million units for 2018, a decline of 1.4% from this year.
 
The big surprise for 2017 turned out to be the strength of sport utility vehicle (SUV) sales, according to Jeff Schuster, LMC’s senior vice president of forecasting.

“SUV demand has been robust and is expected to finish up 5% in 2017 from 2016 and a market share of 43% of total light-vehicle sales,” he said in a statement. “The SUV reign will continue for the foreseeable future [as] SUVs are expected to  account for 50% of new model activity in 2018, which will help push the share of total sales to 45% and continue the segment's volume growth, even as the total market is projected to contract further in 2018.”
  
He added that light truck models overall accounted for 68% of new-vehicle retail sales through Dec. 17 – the highest level ever for the month of December, making it the 18th consecutive month above 60%.