2015 New Car Sales Projected to Reach Decade High
Dec. 23, 2014—New car and truck sales in the U.S. are expected to rise at least 2.6 percent to 17 million units in 2015, according to a forecast from TrueCar Inc.
That figure would represent the highest level since 2005.
"We see a convergence of favorable economic circumstances pushing auto demand up to pre-recession levels, including continued gains in the job market, the best consumer sentiment in eight years and low fuel prices," said John Krafcik, president of TrueCar. "This year has been remarkable in terms of growth and revenue coming from big gains in pickup, utility and luxury vehicle sales. We think 2015 will be even better."
TrueCar predicted total market sales, including new and used, will rise 3.4 percent to 55.4 million units, up from 54 million in 2014. This translates to $1.2 trillion of revenue based on average transaction prices, which is a 5.5 percent annual increase.
New vehicle revenue, based on transaction prices, is projected to reach $553 billion next year, a 5 percent increase over the $526 billion generated from an estimated 16.5 million new vehicle sales in 2014.
The average transaction price (ATP) of new vehicles in 2015 will rise 2.4 percent to a record $32,589, based on TrueCar data.