As our own Tim Cain reported this morning, if not for the mid-sized truck sector, total U.S. new vehicle sales volume would have risen by less than one-tenth of one percent. Now, forecasters are reducing their outlook for the remainder of 2016, leading some automakers to start fighting the stagnating market by deploying aggressive incentives.
Sound dangerously familiar? It should. A quote from George Santayana is very appropriate at this juncture: “Those who cannot remember the past are condemned to repeat it.”