New-vehicle sales may dip in 2020, Cox Automotive Chief Economist Jonathan Smoke says, but dealers should still expect strong results.
"There's no question the U.S. economy is slowing," Smoke said here Saturday. Cox Automotive forecasts U.S. new light-vehicle sales of 16.6 million this year. That compares with sales of 17.1 million in 2019.
The projected decline is largely in fleet sales, Smoke said, meaning "we actually think this is going to be a pretty good year for retailers."