WESTLAKE VILLAGE, CA - J.D. Power said new light-vehicle sales this year will hit lowest point since 1994. Projected sales for the year were revised downward from 15.7M to 14.95M units, and falling consumer confidence and a troubled economy are cited as key reasons for the bleaker forecast, according to the company. However, sales are still expected to rebound slowly in the second half of the year.
Also, J.D. Power noted that:
· Projected retail sales for the year are revised downward from 12.6M to 12.3M units.
· Fleet sales are on the decline already, but further decline is expected.
· The current economic environment is full of uncertainty and risk.
For more information, check out: www.jdpowers.com.