NADA Chief Economist Says Crossovers, Large Cars Selling Well

NADA Chief Economist Says Crossovers, Large Cars Selling Well

High gas prices have helped sales of large and mid-sized cars and crossover utility vehicles, said NADA chief economist Paul Taylor. He has predicted new-vehicle sales of 16.8 million units for the year and said that dealers generally continue to be optimistic about the future, especially about sales of certified pre-owned cars. Participants in the Chicago Fed’s annual Automotive Outlook Symposium in June said they expect light-vehicle sales to remain steady and the US economy to expand at a rate slightly above its trend (about 3 percent) this year.