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Auto Sales Decline in 2017, Analysts Remain Optimistic

January 3, 2018 0 Comments

As we head into the year 2018, auto sales trends moving forward, are starting to become more and more clear.

According to multiple media reports including the AP, auto sales may have fallen in 2017, however the indication is that demand will remain strong. 17.1 million new units sold is the expected landing spot for auto sales in 2017. 17.1 million would be a 2 percent drop from 2016, the first decline in growth in 8 years.

Automaker examples of year-over-year drops include Fiat Chrysler down 8 percent, while GM Ford and Toyota all declined 1 percent over 2016 sales figures. Meanwhile, Nissan is up 2 percent while Volkswagen, overcoming the diesel emissions fallout, rose 5 percent year-over-year.

The same reported noted the average age of vehicle on the road gone up 4 years since 1998 to nearly 12 years old. It’s also noteworthy that with nearly one third of auto sales in 2015 were leases, meaning nearly 4.5 million consumers will be trading their lease in the coming years.

As you hear retail automotive reports from analyst and experts, what’s your take? What conclusions about the future of auto sales are you able to draw from your experience at your store or group?

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About the Author:

Dave Martinson is a broadcast journalist for DrivingSalesNews. He has a background as a TV News Reporter, Anchor and Producer. He has also worked in Digital Marketing and Human Resources. He received his bachelor’s degree in Communication from Brigham Young University – Idaho. He’s married and originally from the state of Washington. He’s a huge football fan and enjoys the outdoors.