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).
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By GlobalDataThe 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.
