economic recession

economic recession

Economic Forecast with Steven Szakaly

2w ago
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NADA chief economist Steven Szakaly predicts that low gasoline prices and rising incentives are among the key factors that will sustain the new-vehicle sales momentum in 2016. "This year, we'll start to see sales struggle a bit, and we'll see incentives come up. OEMs have a lot of capacity," Szakaly said. "This is a great industry right now. You look at the shows: Los Angeles, Detroit, New York coming up and the NADA convention as well, and they're all looking at banner years." Szakaly added that the auto industry has achieved an unprecedented recovery since the economic recession. "Wages are up, and automobile dealerships are averaging growth of over 3 percent, well above the national average," he added. Source: NADA