Part 4/7:
The Impact of Migration Policies and Economic Factors
As the discussion progresses to immigration under different administrations, Godfredson notes that previous years saw net migration of 0.9 million in Trump's last year, down from 3.9 million in 2023. This stark contrast raises concerns about future population figures and the resulting effect on car buyers.
He further explains that the auto industry’s expectation of a 1% annual growth in vehicle sales—a 17 million units benchmark—may be unrealistic considering these demographic changes. With a structural demand potentially closer to 16 million vehicles, the industry needs to recalibrate its expectations.