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Automotive Market Update: The Road Forward

By Derek Stanley on November 9, 2023

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Derek Stanley

Derek Stanley is a vital member of ITR Economics team of expert economists and consultants. With an extensive background in client communications and wealth management, he lends his expertise to the production of client reports, forecast reviews and research, and frequent communications with clients.

Whether you have a company that operates in the automotive industry or you are just considering a new or used vehicle for yourself, you may be wondering how the ongoing United Auto Workers strike and the macroeconomic recession we are expecting for 2024 may impact this key market. Take a ride with us into the North American automotive sector. We will answer your questions and help you make informed decisions for the weeks, months, and years ahead.

We will begin by providing a brief overview of recent auto market trends, our North America Light Vehicle Production forecast, and how our market expectations align with our overall macroeconomic outlook for 2024. We know the UAW strike is front and center for many business leaders. We will use a historical lens to explore how the strike could affect our Production forecast; expect a holistic approach in the context of ITR Economics’ time-tested forecasting methodology.

For our clients who operate abroad, we will discuss international auto market trends as they relate to our macroeconomic expectations for the various regions. Lastly, we will cover some important subsectors, including electric vehicles, used cars, and various components and parts.

In typical ITR Economics fashion, we will provide you with a road map to help you identify potential opportunities and risks in the quarters to come so that you can make the most well-informed decisions possible.


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