The U.S. auto industry is heading toward a nearly 30% decrease in sales by 2022, a Bank of America Merrill Lynch analyst predicts. Softening vehicle sales since 2016 will continue as cyclical demand softens.
Automakers must resist temptations to lower prices as they had during the economic downturn in 2007, 2008 and 2009, said John Murphy, a senior auto analyst. Keeping vehicles at profitable margins will help investments in new autonomous, connected and electric future technology.
Following declining sales through 2022 is the industry is expected to have a strong recovery, Murphy added.
Read the article at The Detroit News.
The post Analyst Predicts Auto Industry Heading For Plunge in Sales appeared first on Fleet Management Weekly.
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