Data and Forecast Revised; Expect a Plateau Into Mid-2025 From Vehicle Affordability Headwinds
US Automobile Production Index is an index comprising establishments primarily engaged in (1) manufacturing complete automobiles (i.e., body and chassis or unibody) or (2) manufacturing automobile chassis only.
ITR Economics has classified this index as being in phase D of the business cycle. Phase D or “Recession” occurs when the annual growth rate (12/12) is declining, and the rate of growth is negative. We denote this phase with red (for warning).
ITR forecasts the annual growth rate for 2024 at -6.3%, 2.2% in 2025, and 6.2% in 2026.
