Jul 23, 2008
Story Timeline: 80 days
J.D. Power and Associates Reports: Total U.S. New Light-Vehicle Sales Expected to Drop to 14.2 Million Units, Reaching the Lowest Levels Since 1993 Retail Sales Down 10 Percent; Fleet Sales Decline by 21 Percent WESTLAKE VILLAGE, Calif., July 23 /PRNewswire/ -- J.D. Power and Associates forecasts new light-vehicle sales to drop to 14.2 million units in 2008, marking a 12 percent decrease from 16.1 million units in 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/20050527/LAF028LOGO-a) The forecast revision -- which represents a reduction of 750,000 units from 14.95 million projected earlier this year -- is prompted by a deteriorating economic environment, prolonged effects wrought by the credit crisis, elevated gas prices and a reduction in the daily rental fleet market. Specifically, fleet sales are projected to drop to 2.6...
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