Three important automobile investors — Jerry York, adviser to the billionaire investor Kirk Kerkorian; Thomas Stallkamp, a former president at Chrysler; and financier Wilbur Ross — predicted a powerful downturn in American auto sales this year, even a prediction with the lowest totals in over 15 years.
"While I am very negative on the autos sector over the next 12 to 18 months, I'm just not sure how bad it could be," York said to Automotive News. "We all know housing is a debacle."
Stallkamp feels that this year sales could be much worse actually. "I'd say it's somewhere between 14.5 (million) and 15 (million), somewhere in there and it's hard to tell". "Today, I'm a little more towards 14.5 (million)."
"You're going to see some continued retrenchment in construction and the building trades that will hit the Big Three particularly" affirmed Stallkamp.
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