We've seen the headlines reporting that auto sales are in decline and are expected to recede over the next couple of years. At first glance, the news may seem unsettling. As of July 31, new auto sales had fallen 7% from a year earlier to 1.42 million vehicles, according to Autodata Corp. But, is there growth opportunity for credit unions?
The numbers that drive these headlines don't tell the whole story.
According to an Aug. 1 Associated Press article, analysts had expected lower auto sales in the U.S. this year because post-recession sales had driven such strong growth. In fact, last year's 17.55 million new autos sold was an all-time record.
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