IHS Global Insight forecasts 10.3 million units for U.S. auto industry in 2009 & 11.2 million in 2010
Manufacturers are set to publish their September auto sales results today. As I mentioned in a post earlier this month the Cash for Clunkers induced hangover is going to be ugly. Manufacturers were unprepared for the surge in demand and dealer inventory levels are extremely low. I'll post an update on the Sept. numbers later on today.
In the meantime, I came across this interesting tidbit this morning. IHS Global Insight, one of the better forecasting outfits out there, recently revised its forecast for U.S. light vehicle sales to 10.3 million units for all of 2009 (slightly better than the 9.5 to 10 million that I predicted earlier this year). This is up from the company's pre-C for C forecast of 9.7 million.
For all of 2010 Global Insight estimates that U.S. light vehicle sales will come in at 11.2 million and 13.8 million in 2011. Both are a far cry from the heyday when we saw 16 to 17 million here in the States, but the market for autos is improving. Time will tell if these forecasts are accurate, but as I mentioned earlier, these guys are pretty good. Their guess is as good as anybody’s.