Toyota exec sees U.S. industry-wide auto sales sliding below 17M in 2018

|About: Toyota Motor Corporation (TM)|By:, SA News Editor

A Toyota (NYSE:TM) sales exec says the U.S. auto market in set for a second straight year of shrinking demand, bringing sales back to a level the industry should be able to maintain going forward.

TM is forecasting sales in the U.S. market will slide below 17M cars and light trucks next year from an anticipated 17.1M this year, as industry-wide deliveries have shed 1.5% YTD through November after a record 17.55M in 2016.

“We’re seeing indications that automakers could close 2018 in the mid-to-upper 16M mark,” Jack Hollis, VP of U.S. sales for the Toyota brand, told the Automotive Press Association today.

Even while predicting a second straight year of falling sales for 2018, Hollis said TM’s outlook for the U.S. market remains strong, citing factors including low fuel prices and interest rates.