Attend Automotive Outlook Conference to Know What to Expect in 2020
What should you expect in 2020? Will new vehicle sales increase? What markets around the globe have the biggest upside? Where are the biggest risks? What should we anticipate relating to the economy and how will it affect the auto industry? How will electric vehicles, autonomous vehicles and other innovations impact vehicle mix? What do suppliers need to know?
These are just a few of the topics that will be addressed at SAA’s Annual Automotive Outlook Conference which will take place Jan. 21, 2020 at the Mint in Southfield, MI.
Auto Sales Expected to Top 17 Million Vehicles for Fifth Consecutive Year
For the fifth year in a row, U.S. auto sales are expected to top 17 million vehicles. Purchases of new vehicles in 2019 are expected to decline slightly from the previous year, but not to the extent analysts initially thought.
NADA Forecasts Slight Decline in 2020 U.S. Auto Sales to 16.8 Million New Vehicles
The National Automobile Dealers Association (NADA) released its annual new-vehicle sales forecast for 2020 in December. The group predicts a slight decline in sales and continued movement away from cars to light trucks. “We expect new light-vehicles sales will come in at 16.8 million units for 2020, roughly a 1.2 percent drop from 2019 sales volume,” said NADA senior economist Patrick Manzi.
Recalls and Corruption Probes Reshaped the Auto Industry Heading Into 2020s
The global auto industry was under a regulatory microscope many times in the 2010s for incidents its critics say failed customers as well as shareholders. About 323.4 million vehicle recalls were issued between 2010 and the third quarter of 2019, an 81.8% jump from the previous decade.
Is the Auto Industry Set to Witness a Consolidation Spree?
Will the Fiat Chrysler FCAU-PSA Group deal herald further mergers in the near future? Well, considering declining global car sales, high capital expenditure and margin compression, a wave of consolidation could actually begin in the automobile industry. The recent Fiat-PSA merger, which will create the world’s fourth-largest carmaker, may just be the beginning.
The European Auto Industry Is Racing To Ditch Diesel
As if the downturn due to a trade-war-induced slowdown in China were not enough, the European automotive industry is facing the challenge of a rapid switch from diesel to petrol engines that has been gathering pace for the last two years. At the same time, the industry has also had to deal with the implementation of new legislation designed to reduce car makers’ overall fleet emission levels.
Auto Suppliers at a Crossroads
If there were a contest for unhappiest people on the planet right now, automotive suppliers might be right up near the top. The economy continues to move at a steady clip, but stark divisions in the global auto market make it difficult for components makers to know what to prioritize for the here and now, and how to position themselves for the future.
Top Automotive Stories of 2019
Fiat Chrysler Automobiles finally found a partner, though not before Sergio Marchionne's untimely death. And not before backing out of one engagement and finding a different partner instead. Still not enough drama for you? General Motors provided a major plot twist, claiming Marchionne was the puppet-master in a decade-long bribery scheme to buy off UAW officials.
Top Stories of the Decade: The Automotive Industry in Transition
A new decade meant forgetting the last one — the 2000s were the "lost decade" in Michigan thanks to declining economic output, massive job losses and stagnation across nearly every sector. A year earlier, two of the country's largest automakers, General Motors and Chrysler, were under government-sponsored bankruptcy thanks to the late-decade economic fallout of the Great Recession. U.S. car sales hit unprecedented lows at 10.3 million units. Pain was plentiful.
But the 2010s started, shockingly, on a high note. The economic trends were reversing and car sales began to pick up throughout the year and GM's and Chrysler's new balance sheets, free of loads of debt, made them more agile. U.S. car sales hit record highs by 2016 at 17.5 million units.
Why SUVs are Getting Bigger and Bigger
Just when you thought sport-utility vehicles couldn’t get any bigger, they are. Two of the auto industry’s most hulking SUVs, the Chevrolet Tahoe and Chevrolet Suburban, are growing in size for the 2021 model year. For customers, that means more headroom, more legroom and more space to haul stuff. For automakers, that means more profits because large SUVs are among the industry’s biggest moneymakers, rivaled only by full-size pickups, which are also getting bigger.