According to Autodata Corporation, auto sales rose 1.2% to 1.4 million vehicles in June, pushing the annualized selling rate to 16.98 million units, its highest pace since July 2006. Low interest rates and a brighter economic outlook drove sales higher for most major automakers. For the first half of the year, automakers sold a total of 8.2 million vehicles in the U.S., up 4.3% over the same year-ago period.
Certified Pre-Owned Sales Also Continue To Grow In 2014
The National Automobile Dealers Association (NADA) Used Car Guide recently reported that certified pre-owned (CPO) sales should surpass 2013’s all-time high of 2.1 million vehicles this year.CPO sales through April are up 11% from last year and well ahead of the 3% rise in new and used vehicle sales. Late-model supple is expected to grow 8% in 2014 and another 9% in 2015, which will fuel continued CPO sales. NADA says that educating consumers about CPO benefits will play a major role in driving certified sales growth.