CLEVELAND, June 14, 2017 /PRNewswire/ -- US retail sales of motor vehicles are forecast to total 17.1 million units in 2021, according to Motor Vehicles: United States, a report recently released by Freedonia Focus Reports. An expected rise in interest rates will weigh on new vehicle sales, as the vast majority of new car purchases are financed through a loan or lease. Although slight declines are expected through 2021, sales will nevertheless remain at roughly the 2006-2016 decade peak levels registered in the 2014-2016 period. Reduced vehicle replacement needs will also weigh on retail sales. The increased durability of newer-generation vehicles will continue to lengthen vehicle replacement intervals.
Retail sales of light-duty trucks are expected to fall through 2021, more than offsetting gains in the other product segments. Receding sales of new light-duty trucks and vans will lead the downturn, as an influx of used light-duty trucks coming out of leases will result in lower prices for used vehicles. Lengthening vehicle replacement intervals will also continue to constrain sales.
These and other key insights are featured in Motor Vehicles: United States. This report forecasts to 2021 US motor vehicle retail sales and production in units, as well as consumer spending on used light vehicles in real (inflation-adjusted) US dollars. Total retail sales and production of new motor vehicles are segmented by product in terms of:
- light-duty trucks
- heavy-duty trucks
- medium-duty trucks
- medium- and heavy-duty buses
Consumer spending on used light vehicles is segmented by product in terms of:
To illustrate historical trends, total retail sales, total production, consumer spending, the various segments, and trade are provided in annual series from 2006 to 2016.
More information about the report is available at https://www.freedoniafocusreports.com/pub/10912504.html
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at www.freedoniafocusreports.com or www.marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-retail-sales-of-new-motor-vehicles-to-fall-to-171-million-units-in-2021-300473900.html
SOURCE The Freedonia Group