We forecast vehicle sales to decrease by 0.4% in 2019 and grow by 4.4% in 2020. The vehicle market rebounded in 2018after sales dropped in the 2015-2017 period and we expect the market to remain in the positive growth territory over our 10-yearforecast. We expect the improving consumer spending and macroeconomic conditions will provide a solid base for passengervehicle sales to grow in 2019-2020. Three key macroeconomic variables add further upward momentum to the acceleration in newvehicle sales in 2020: an uptick in economic growth, improving employment situation and lower inflation.
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