December 1, 2017 / 3:13 PM / 14 days ago

NADA sees U.S. new vehicle sales at 16.7 million units in 2018

DETROIT (Reuters) - Sales of new vehicles in the United States should decline in 2018 as high prices and competition from nearly-new, off-lease vehicles will weigh on consumers, a dealer lobby group said on Friday.

The National Automobile Dealers Association said it sees U.S. new vehicle sales at 16.7 million units in 2018, down from the 17.1 million units it expects for 2017. Last year major automakers posted record sales of 17.55 million units.

Reporting By Nick Carey

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