General Motors Co <GM.N> shares are down 1.6 percent for the year, lagging broader market indexes, and Ford Motor Co <F.N> shares are down nearly 7 percent. Shares in Fiat Chrysler Automobiles NV <FCHA.MI> <FCAU.N> are up nearly 11 percent, but the company’s market value is just $12.3 billion – about a quarter the value of electric car maker Tesla Inc <TSLA.O>.
WIDE RANGE OF FORECASTS
Forecasts for U.S. auto demand range widely, underscoring industry uncertainty.
Ford stuck this week to a forecast that 2017 sales would rise to 17.7 million vehicles while the NADA and other forecasters expect them to hover around 17 million. Consultancy AlixPartners expects U.S. new vehicle sales to reach 17.5 million this year, but forecasts a drop to 16.6 million in 2018 and 15.2 million in 2019 before a slow recovery.
Industry executives point to solid consumer confidence, low interest rates, rising transaction prices and an old car fleet on America’s roads, where the average vehicle is over 11 years old, as they give voice to guarded optimism.
