What is happening: There are signs that the US auto industry is stalling as we enter 2019.
Why is this happening: Predictions suggest that consumers may look towards used cars as interest rates rise. US-China relations could also damage American vehicle production and sales.
2018 sales: 17.2 million vehicles were sold by US automakers last year. This exceeded expectation, as many believed there would be a downturn. Automotive shipments fell 4.5% in November.
China: In 2017, China imported $13 billion worth of vehicles from the US. However, the recent trade war and existing/pending tariffs may harm these figures.
GM: General Motors’ US sales dropped just under 3% in Q4 of 2018. GM have also closed several NA factories, leaving thousands without jobs.