CAR Conference Speaker: Vehicle Sales Will Slow But Remain Robust
March 14, 2000
• by Staff
LAS VEGAS – Vehicle sales will slow, but will remain robust in the next few years, said Nicholas Lobaccaro of Lehman Brothers. Lobaccaro gave several points in discussing his outlook for the used-vehicle industry:Sales will slow, but will remain robust. "If the industry used to be happy with 15 million vehicles sold, they’ll be happy in the next few years," Lobaccaro said.Other trends that Lobaccaro predicted were that hybrid vehicles will go up in sales, and cars would decline. Traditional trucks will hold their own or decline a bit. Also, the Internet will drive marketing and cost efficiencies, and will improve customer satisfaction. There will be an increased supply of near-new vehicles. Vehicles will have improved quality. Customers will have improved access to credit. There will continue to be higher volumes of off-lease vehicles.