By Eric Stock
BLOOMINGTON – A financial analyst predicts the auto industry will continue its rebound in 2016.
U.S. auto sales are expected to set a record this year and Jill Gonzalez, a spokeswoman for WalletHub, predicts a record 18 million vehicles will be sold next year.
PODCAST: Scott and Colleen’s interview with Gonzalez on WJBC.
“People have been waiting and saving up for these major purchases and now they are finally ready,” Gonzalez said. “They are sitting on 11-, 12-year-old cars on average”
WalletHub has released a list of financial predictions for 2016, which include a rebound for oil prices – though gas prices would stay relatively low, and the housing market will see higher costs and slower growth.
WalletHub expects the fed to raise interest rates in 2016, which Gonzalez said is nothing to be alarmed about.
“Twenty years ago it was almost at 21 percent, now we’ve been at near zero for almost 10 years,” Gonzalez said. “It’s not as bad as we might think it is.”
WalletHub also expects U.S. gross domestic product to grow 2.4 percent, but will lag behind the worldwide average.
WalletHub added the U.S. will approach full employment which Gonzalez said is good for people looking for word or seeking more job security.
Eric Stock can be reached at [email protected].
