LMC Automotive lowers its 2012, 2013 forecasts for U.S. vehicle sales image

In U.S. sales forecasts for 2012 and 2013, LMC Automotive has lowered its outlook from 15.2 million to 15 million. The company hopes for slower economic growth in the second half of 2012 that what it had previously expected, the chief forecaster said on Tuesday.

The company was earlier a part of J.D. Power and Associates and now it sheds the 2012 U.S. auto sales forecast to 14.3 million on light vehicles. The company had earlier forecast for 14.5 million on June. For next year, the company has dropped down its forecast to 15 million vehicles where it forecast 15.2 million. The vice president of LMC Jeff Schuster has said in his statement at the center for Automotive Research conference in Traverse City in Michigan that the company has lowered its forecast because of a change from the significant economic growth experienced in the first half and the flatter growth found in the second half. Schuster was also a speaker in this conference.

He added further that a level of uncertainty among consumers is noticed. The 2013 forecast for auto sales was also dropped down due to the levels of uncertainty that could extend next year. The U.S. economy as expects by LMC can rise by 2 percent to 2.25 percent in the second half of this year which is the lower count as compared to what was forecast earlier.

Anthony Pratt from Polk, the industry consultancy said that Polk has managed its forecast for 2012 light vehicle sales in United States at 14.3 million for few months. 12.8 million light vehicle sales were noticed last year that denote a 12 percent of rise in sales this year as forecasts by both LMC and Polk.