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ARTICLE · 27 FEBRUARY 2020

Auto Team America At NADA - Buy-Sell Forum And CEO-CFO Forum

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2019 actual sales was 17.0M units sold compared to 17.3M in

CanadaStrategy
Crowe MacKay LLP
Crowe MacKay LLP
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AUTO TEAM AMERICA AT NADA – BUY-SELL FORUM AND CEO-CFO FORUM

Industry Update

Industry 

  • 2019 actual sales was 17.0M units sold compared to 17.3M in 2018, down 1.3%.  2020 expected to be another 300,000 units lower than 2019 at 16.7M.  2023 and 2024 sales projected at 13M to 14M units.  
  • Harder for retail sales due to higher cost of vehicles (new and used), inflation masked by injections from the central bank, increase in fleet sales, volatility of gas prices and total miles driven has slowed down. 
  • Sales mix still favors trucks over cars with a 2.5:1 ratio.  
  • Focus of manufacturers to bring electric vehicles to market.  Success will be dependent upon teamwork to create the technology as well as leveraging of research and development.

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