U.S. new-vehicle sales to fall to 16.8M in 2020, NADA says

U.S. light-vehicle sales will fall 1.2 percent to 16.8 million next year as slower job growth, lower consumer spending and affordability weigh on demand, the National Automobile Dealers Association said in a forecast released Tuesday.

New-car and light-truck deliveries have dropped 1.4 percent through November, according to Automotive News Data Center estimates, but the industry remains on track to generate sales in excess of 17 million units for a record fifth year in a row, helped in part by higher discounts and higher fleet shipments that have offset lower retail volume. A year ago, many analysts, citing rising interest rates, expected 2019 sales to fall below 17 million for the first time since 2014.