Steven Szakaly, chief economist for the National Automobile Dealers Association (NADA) predicts that low gas prices and increased demand for trucks and crossovers will lead to U.S. sales of 16.9 million vehicles in 2015, up from 16.5 million sold in 2014. An improving economy and housing market, low gas prices and continued job growth are driving the increase in vehicle sales. Early indicators show that January sales will start off the year at a great pace. According to Kelley Blue Book, January light-vehicle sales are expected to be nearly 13% higher than January 2014. January sales estimates are expected to hit a seasonally adjusted, annualized selling rate (SAAR) of 16.4 million to 16.6 million, up from 15.3 million a year ago. That’s on pace with last year’s total sales of 16.5 million.With the price of regular gas averaging less than $2 a gallon in 27 states, sales of larger vehicles are continuing to gain momentum. In the first two weeks of January, trucks, vans and SUVs accounted for 55.4% of U.S. sales, the highest percentage for a January since 2004, according to J.D. Power.
More Than 42 Million Used Vehicles Sold in 2014
According to CNW Research, more than 42 million used vehicles were sold in 2014, virtually duplicating the total from 2013 thanks to an estimated 3.32 million used vehicle sales in December 2014.CNW estimates that, of the 42 million used vehicles sold in 2014, franchised dealers accounted for 15.63 million, independent dealers accounted for 13.93 million, both down slightly from 2013. Private sales accounted for the remaining 12.49 million private-party sales last year, up from 12.02 million in 2013.