U.S. Auto Sales Chartbook. January 2020

Summary

New vehicle sales were 16.9 million in 2019, 1.7% less than in 2018. Although still solid, 2019 sales were the lowest since 2014. We expect new car sales to slow down further in 2020, due to slower economic growth and less affordable vehicles.

Key points

• Key points:
• Stable interest rates should provide some relief to dealers and consumers
• A robust supply of “off-leasing” units, high prices of new vehicles, and access to credit will continue supporting sales of used units
• PHEV and BEV sales declined to 319,554 in 2019 from 349,688 in 2018. Electric pickup models may start production this year
• The battle for CAFE targets, affordability and the phase out of the federal tax credit for some companies could limit prospects for EVs

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