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Chicago Fed Letter, No. 108, August 1996
The U.S. Auto Outlook — A Global Perspective

At the end of 1995, light vehicle sales were forecast to remain in the doldrums after finishing a disappointing year. Sales last year had been expected to increase by 300,000 to 600,000 units over 1994’s sales, but finished at only 14.7 million units — 400,000 units below the previous year’s level. The failure to achieve those early expectations for 1995 set off an inventory correction that hampered the entire economy for most of the year.

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