Stronger than expected light vehicle sales in the US have led the forecaster JD Power-LMC to revise its market forecasts upwards, writes just-auto.com managing editor Dave Leggett.
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Speaking at JD Power-LMC#;s global automotive outlook conference in London today, Bob Schnorbus said that April#;s US light vehicle market looked to be coming in at a level in excess of a 17.5 million annualised selling rate.
Schnorbus maintained that the expected sales ‘payback#; following the take-up of incentives will be absent while incentives continue.
He added that “it is inconceivable that the Big Three will back off from incentives”.
J D Power-LMC is forecasting that the US light vehicle market will decline to 16.4 million units in 2002 (against 17.2 million in 2001).
The company also forecasts that global light vehicle sales will fall back to 55.5 million units in 2002, a milder downturn than many industry analysts had feared earlier this year.
In 2001, the global market topped 57 million units.
