Record or Not in 2016, Auto Sales Growth Seen Drawing to End
- Carmakers enter 2017 projected to face 1st U.S. drop in years
- December sales estimates show bump for GM, decline at Chrysler
A salesman, left, speaks to a potential car buyer on the lot of a dealership in Los Angeles, Calif.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
While it’s still too close to call whether 2016 delivered another annual record for U.S. auto sales, it’s clear the era of rapid growth is over.
The industry is entering 2017 with analysts projecting the first significant decline in eight years -- a drop of 200,000 vehicles, about the equivalent of one factory’s production -- to 17.3 million cars and light trucks. While top-earning consumers will continue to snap up luxury vehicles loaded with high-tech features, analysts say higher expenses are working against less well-heeled buyers.