JD Power is now forecasting that the total US light vehicle market will drop to 13.6m units in 2008, 16% under last year's 16.1m total. A further drop to 13.2m units is projected for 2009.
The forecaster and market analyst also said that Europe's market is set to decline while growth in China and India is slowing.
As the US new vehicle retail market continues to deteriorate, new vehicle retail sales (excluding fleet sales) are projected to end 2008 at 10.8m units, which is 2m units below 2007 sales, according to JD Power.
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