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Think 2008 Will Be A Recovery Year For Automakers? Well Not Quite
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Posted on
Dec 18 2007 6:33 AM
by
Asif
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The gloomy storm clouds hovering over the US automobile market will not dissipate in the next twelve months. Based on expectations for demand-side fundamentals, CSM Worldwide is forecasting light-vehicle sales to descend to a 10-year low of 15.8 million units in 2008.
"The market will linger in a cyclical contraction phase," said Joseph Barker, senior manager of North American Sales Forecasting. "The downturn was triggered by diminished consumer purchasing power, depleted pent-up demand, and structural changes at Detroit automakers."
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