from Casey Research
The car sales boom is coming to an end.
This might surprise some folks. After all, the auto industry has been one of the economy’s bright spots since the financial crisis. Sales have grown each year since 2009. Last year, carmakers sold a record 17.47 million vehicles.
Many folks see the booming auto industry as proof that the economy is getting better.
E.B. Tucker, editor of The Casey Report, sees it differently. He says the auto industry boomed because of cheap money. But, with the economy slowing, the easy money is drying up. According to E.B., this will put an end to the auto industry’s seven-year boom.