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Experts Predict Automotive Sales Will Continue To Rise

Aug 28, 2012

Some economists see U.S. car and truck sales continuing to increase over the next several years, with some forecasts as high as 17 million vehicles sold in a year. Slow, but steady economic growth, improving consumer attitudes, benign inflation and a boost in home-building are just some of the indicators that have economists optimistic. Pent-up demand, an aging vehicle fleet, attractive leases, low interest rates, improved access to credit, new vehicle incentives and rebates, as well as declining prices on used vehicles are also factors that should keep consumers coming into showrooms. There were 12.8 million cars and light trucks sold in 2011 and NADA Chief Economist, Paul Taylor predicts that 2012 will see total sales in the ballpark of 14 million vehicles sold. LMC Automotive predicts flat sales in the second half of 2012 and total sales of 14.3 million vehicles, with sales jumping to 15 million in 2013. Automotive data and marketing firm R. L. Polk, which expects sales of 14.3 million this year, is predicting U.S. light vehicle sales will hit 16 million by 2014. The Center for Automotive Research, predicts vehicle sales over the next decade in the U.S. to reach 14.6 million in 2013, 14.9 million in 2014, 15.5 million in 2015 and 15.8 million in 2016.