David Whiston, Morningstar Senior Equity Analyst, shares his take on the health of the auto sector with CNBC. He believes 2016 was the top of the boom. Although he does not predict a crash, he does say volume is down 1.5% which are healthy levels of decline and overall new car sales should expect to be “sitting along the top” for now.
When questioned on confidence highs in spending in the marketplace, David blames the declines on the high used car surplus and how that affects both new and used car sales.
Watch the full interview from CNBC