b'32American Journal ofTransportation ajot.com(COMEBACKcontinued fromcompaniesandothercorporateenti-page 31) tiesthatbuyfleetsofvehiclesfor In January 2023, The Consumereither their own use or lease, rather Confidence Index (CCI) fell to 107.1than consumers that make up the retailNew Englands leading engine of job creation and economic growth[1985=100] from 109.0 in December.side of the business. Ataman Ozyildirim, Senior Director,The National Automobile Dealers Economics at The Conference BoardAssociation(NADA)takesasimilarOver 225 companies and more than 13,000 jobs across 3,200 acresthatproducestheCCIwroteintheviewoftheforcesshapingtheauto Januarysurvey,Consumersweremarket,butoverallhasalessrosyAccess to highway, rail, airport and seaportless upbeat about the short-term out- view of 2023, largely based on rising look for jobs. They also expect busi- interest rates, The Fed increased the ness conditions to worsen in the neartargeted range of the Fed Funds RateOne of the Top 10 industrial parks in the United States in 2022term. Despite that, consumers expectby 25 basis points at its first meeting theirincomestoremainrelativelyof 2023. This increase will push vehi- Home to the Port of Davisville, one of the Top 10 stableinthemonthsahead.Mean- cle-financingrateshigherincomingauto importers in North Americawhile, purchasing plans for autos andmonths, and we [NADA] believe that appliances held steady, but fewer con- theFedwillincreaseratesacoupleThe Port of Davisville played a leading role in sumers are planning to buy a home moretimesbeforepausinglaterthisthe development of the first offshore wind farm in the United Statesnew or existing. year. For the rest of the year, we expect Cox Automotive, a company thatthat inventory levels will continue toTo learn more visit Quonset.comspecializes in reporting on the autobuild slowly, giving consumers more industry,intheirJanuaryforecastchoiceondealerlots.Withfewer [updatedinFebruary],wrote,Oursupply constraints, OEMs should alsointernalcombustionengines(ICE).ofsales,whilehybridshit5.7%and forecast called for a sales pace of 15.6be able to deliver more vehicles to fleetThats an overwhelming market shareplug-in-hybrids 1.4% of sales. While million[note:unitssoldduringthecustomers. Our forecast for new light- but electric vehicles (EVs) are gain- there is a wider public interest in EVs year expressed as a monthly pace],vehicle sales in 2023 is 14.6 millioning ground and becoming a major andwith the rise in environmental, social and indications are the market cameunits [Editors Italics]. rising contributor to auto sales. On aandgovernance(ESG)initiatives in slightly higher, closer to 15.7 mil- Bottom line is whether it is a 15.7percentage basis EVs are the fastestespecially in states like Californiathe lion. Either way, new-vehicle sales inmillion unit pace or 14.6 million unitgrowingsegmentoftheautoindus- main barrier is price. For most consum-January were solid and likely a signpace, auto sales clip, is far short of thetry, albeit starting from a much lowerers that means EV price and ownership thatimprovedinventorylevelsare17 million unit pace of pre-pandemicbasepoint.Data,fromStatistaesti- parity with ICE vehicles. Right now, having the expected positive effect.auto sales.mates that EV sales will hit $450 bil- EVs are pricier, whether measured by We[CoxAutomotive]alsobelieveIs this the new normal or a spring- lion in 2023 and expect that number tostickerpriceorownershipoperating that fleet sales increased significantlyboard to a more robust auto market overrise to $850 billion by 2027 - a merecosts. But that may be changing. Tesla forthefourthstraightmonth.Withthenextdecade?Rightnow,itshardfour years from now. Its easy to seeandFordarereducingthepricesof interest rates for auto loans elevatedto determine which way the wheels arewith these projections how EV salestheir EVs to encourage consumers to andheadinghigherandinflationspinning but there are some clues. might lift auto sales back to the pre- go-electric now. pressuresimpactingmanyhouse- pandemic threshold. But other EV OEMs, like GM are holds,ourteamexpectsthemajorB reaking theiCeev sg aining Ofcourse,atthisstagetheEVfor the moment content to sit on the automakers to pivot to fleet sales tog roUnd market is fragmented and small in rela- sidelines of the EV price-war and wait offset slowing retail demand. AccordingtoNADAsnumberstion to ICE sales. In 2022, pure elec- fortheautomarket[andtheglobal WhenCoxsaysfleetsalesit(derivedfromWards)86.4%ofthetric vehicles also called battery electriceconomy in general] to rally. refers to a market composed of rentallight vehicles sold were powered byvehicles or BEVs, accounted for 6.4%That might not be a wise strategy. JohnMcElroy,presidentofBlueSky ProductionswhichproducesAutoline Daily, recently wrote an opinion piece forWardsAuto,thatpointedoutthe potential danger of OEMs sitting on the sidelines during the coming EV wars, This is not a time for automakers to waitandseehowthingsdevelop.Its going to be very difficult for those who arrive late to catch up. There is a finite universe of BEV buyers right now, and whoever gets them first will leave every-one else struggling to find customers.(ADDScontinued from page 10)populationsformatrianglewiththe island creating a steady and growing North Atlanc Distribuon (NORAD) trade.The 5.8 million Puerto Ricans stateside (3.2 million on island) haveUnique Savings Opportunies only available in Davisville. Located in the Heart of New England for easy highway access toretained their tastes for familiar brandsOperang on over 250+ acres with room to expand as needed. a large percentage of the US and Canadian Populaons.when they were growing up. The bestConnecons to CSX, NS, CN, & CP via P&W, with 30+ rail spots.example is Goyas penetration into theExperienced accessory team to handle any install / modicaon.stateside markets. Goyas manufactur- Dedicated PDI facility and accredited body shop. 3 vessel berths, soon to be 5, and a dedicated RORO workforce.ing and distribution arms in the USA reachalmostall50states.FloridasExcellent IT infrastructure allowing for seamless data transfer. Foreign Trade Zone 105 available for Duty savings / deferment.Puerto Rican population (1.2 million) To learn more call 4012753326, email [email protected], or visit WWW.NORADINC.COMovertook New Yorks (1.1 million) in 2017 after Hurricane Maria.'