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J.D. Power lowers sales forecast to less than 15 million vehicles

NEW YORK — Despite dire predictions, auto executives say the market for new cars and light trucks is not rapidly deteriorating and may even stabilize in the second half, according to USA Today.

Several executives here for the New York auto show say they expect tax rebate checks that begin landing in May, along with interest rate cuts, to get consumers excited to buy again.

Jeff Schuster, executive director of automotive forecasting for J.D. Power and Associates, isn't buying it. On Tuesday, J.D. Power lowered its annual sales forecast to 14.95 million vehicles, down from the original view of 15.7 million.

Posted by Peter C. T. Elsworth  at 9:52 AM to Sales | Permalink

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