Forecasters: Automotive Sales Future Looks Good
According to a panel of economists, the automotive sales future will be particularly rosy – for at least the next four years. Spokespersons who were featured at the Center for Automotive Research’s annual Management Briefing Seminar told attendants they predict strong sales through at least 2018.
Auto sales have been rebounding since 2010, when only 10.6 million cars were sold that year. Last year’s total was up to 15.9 million … and this year’s total is expected to eclipse 16 million, especially after a particularly strong July. One economist from NADA, Steven Szekaly, predicts as many as 16.2 sales this year.
Automotive Sales Future Negatives
The negatives pointed out by most experts are the lack of sales to younger buyers – and the fact that those who are purchasing cars are buying fewer of them. On the flip side of that, however, statistics show that because they have fewer cars, they are investing more money in better cars.
As we mentioned in a recent blog, the automotive sales future should include more SUVs than sedans if recent trends continue.
The panel also surmises that the combination of low interest rates, cash rebates and the continually recovering economy will help keep the automotive sales future going strong in the coming years.