General Motors no longer expects the U.S. auto industry to collect more than 17.5 million new vehicle sales in 2017.
GM’s chief financial officer, Chuck Stevens, revisited the automaker’s U.S. sales forecast and turned the wick down from the mid-17-million-unit range, according to Automotive News, to the low-17-million-unit range.
That’s not a low number. In fact, 2017’s reduction of some 300,000 sales across the industry, year-over-year, would produce the second-best year for auto sales since 2001.
But reduced demand is complicating matters for the entire industry, most particularly for large automakers with excessive inventory. (Read More…)
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