Mr. Manley said he did not expect a huge downturn like the one that hit the industry in 2008 and 2009. And the rising tensions between the United States and Iran are a reminder of the potential volatility of oil prices. The new trade deal by the United States, Mexico and Canada is likely to increase domestic production and auto employment slightly and cause automakers to think hard before adding new plants in Mexico. “The question is whether it raises prices, and if that hits demand,” Mr. Wakefield said. More than one-third of Americans now have auto loans, up from 20 percent in 1999, according to the Federal Reserve Bank of New York.

Source: New York Times January 04, 2020 07:52 UTC