2009 U. S. Vehicle Sales Fall to 10.7 Million Units, Polk Forecasts
February 10, 2009
DETROIT -- U.S. vehicle sales are expected to drop another 19 percent this year to to 10.7 million vehicles, according to the latest forecast from Detroit-based automotive research firm R.L. Polk & Co.
Polk estimates the 2009 sales split will be 8.5 million retail sales and 2.2 million fleet sales. The firm further predicts U.S. vehicle sales won't stabilize to the 16 million units annually seen in 2007 for a few more years at least.
"With the inability to use rising home prices to generate liquidity and tighter lending rules, the U.S. market stabilizing around 16 million units will occur within three to five years, depending on the efficiency of the government stimulus package, said Lionel Yron, Polk's director of Consulting & Analytics.
Global vehicle sales are expected to slow to 56.8 million vehicles in 2009, a 13 percent decline from 2008, according Polk. Vehicle sales in Western Europe will shrink to 13.5 million units this year, a 12 percent drop. Asia sales will fall to 12.4 million compared with 13.3 million last year, Polk says.
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