NADA End Of Day Automotive News Recap - December 13, 2018

Washington DC December 13, 2018: NADA End Of Day Automotive News Recap

Today, NADA released its annual sales forecast for new light vehicles in 2019. NADA is forecasting sales of 16.8 million new cars and light trucks in 2019. New-vehicle sales are expected to reach 17 million units in 2018, which would mark the fourth straight year of U.S. auto sales above 17 million units.
Source: NADA

U.S. new vehicle sales are expected to drop next year as higher interest rates and rising prices could prompt customers to hold off their car-buying plans, NADA said on Thursday. "If incentives continue to go down and interest rates go up, it will put tremendous pressure on consumers with rising monthly payments," NADA Chairman Wes Lutz. "The level of interest rates moving forward will be a wild card."
Source: Reuters

Higher interest rates and a bevy of new cars coming off lease stand to push more customers into the used market in 2019, said Patrick Manzi, NADA senior economist said at a briefing today.
Source: CNBC

The pain of car rentals could soon get easier thanks to a new program from Hertz that lets members bypass the counter, and drive away using nothing more than their face. Hertz announced a plan to install facial recognition units at airports around the country, beginning this week at Hartsfield–Jackson International Airport in Atlanta.
Source: Fortune