McLean, Va., August 11, 2006 —According to participants in the Chicago Fed's annual Automotive Outlook Symposium, the outlook for 2006 is for the U. S. economy to expand at a rate slightly above its current trend (about 3 percent). Light vehicle sales are predicted to remain steady. Paul Taylor, NADA's chief economist, predicts the sales outlook from the dealers' perspective at 16.8 million units for the year. With gas prices being quite high, large cars, mid-sized cars and crossover utility vehicles (CUVs) are doing well year-to-date. Taylor said that dealers, on average, continued to be optimistic about the future, especially for their pre-certified used cars.
The National Automobile Dealers Association, founded in 1917 and based in McLean, Va., represents approximately 20,000 new car and truck dealers holding nearly 43,000 separate franchises, domestic and international.
Contact:
David Hyatt, Vice President and Chief Public Affairs Officer
NADA Public Affairs
(703) 821-7120
dhyatt@nada.org
Jeff Beddow, Public Relations Director
NADA Public Affairs
(703) 821-7121
jbeddow@nada.org