Forecasters throttle back U.S. car sales projections for 2012, 2013
Okay, so that last part isn't true. But the first is also suspect, according to new forecasts from analysts. As reported by Reuters, LMC Automotive, formerly a branch of JD Power, has revised its 2012 prediction down to 14.3 million vehicles, matching that of rival consultant Polk. LMC also cut its forecast for 2013, from 15.2 million to 15 million, though it does expect the U.S. auto industry to be back at 2007's 17-million-unit level by 2017.
Other projections are even more conservative, according to the report. Sean McAlinden, chief economist for the Center for Automotive Research, is hedging his bets, pointing out that housing usually recovers first after a recession, while this year upwards of 40 percent of economic growth has been auto-related. CAR's forecast calls for 2012 sales to stop at 14.2 million and next year's totals to hit just 14.6 million units.
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