Annual Car Sales Expected to Exceed 15 Million Units
Feb. 13, 2013—New-vehicle sales are expected to grow nearly six percent to 15.3 million units in 2013, according to Kelley Blue Book, the provider of new and used car information.
This figure breaks the three-year trend of double-digit sales growth that has persisted since 2010.
"Although the sales pace is expected to slow this year, automakers have demonstrated that they can generate solid profits with sales at current levels, which is a strong indication that they will remain disciplined by continuing to match production to meet demand," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. "Sales growth won't come easily, especially considering the challenges facing the industry in today's economy. While economic growth is expected to arrive slowly in 2013, there are several indications that point toward solid auto industry sales growth in the years ahead."
According to Kelley Blue Book, indications of the auto industry’s ability to outperform the economy include the pent-up demand, high used-vehicle values, improving credit availability and low interest rates.