, Columnist
Car Sales Dipped, But Expect Big Demand Ahead
More people are moving to exurbs. More people are working. More people are driving more.
More people are driving more. Auto sales will follow.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Auto sales "collapsed" in March, but a close look shows that this is no reason for pessimism about the economy -- or even about the auto industry.
It's true that subprime auto loans are becoming a concern to growing numbers of investors, and that self-driving cars and ride-sharing growth exist as structural threats to the industry, and that this economic cycle could be due for a dip. And yet economic activity correlated to auto sales shows no reason for concern, and a return to some pre-recession behavioral patterns suggests a country with no intention of giving up its historic love affair with cars.