This Year Could Be the Biggest Car-buying Year in 15 Years
Automakers could sell more than 17 million new cars and trucks in the U.S. this year, approaching the sales record set in 2000 of 17.4 million, Automotive News is reporting.
Analysts raised their forecasts after a strong July for automakers and new cars that will be reaching showrooms in high-selling segments by the end of the year. Last month was the 18th consecutive month for increasing sales.
Our own Timothy Cain thinks that regardless of the final number, 2015 will be a very, very, very good year for automakers.
Cain writes:
It’s been 18 months since monthly auto sales volume last decreased. That decrease, mind you, was brought about by a slight decline in the lowest-volume month of the year, January. In other words, growth in America’s auto industry is notable both for its rapidity and its consistency. It’s that consistency that makes it hard to believe the current pace won’t continue. Regardless of the outright volume attained by manufacturers competing in the U.S., 2015 will undoubtedly be better than 2014. Already, through just seven months, an additional 434,000 new vehicles have been sold compared with the same period one year ago.
Spurred by cheap gas prices, trucks are pacing the overall market as the fastest-selling segment in the U.S. this year. Sales of trucks grew 13 percent this year.
Automakers such as Honda and Chevrolet will introduce newer versions of their Accord and Malibu respectively in the coming months, and that should further stoke car sales, Automotive News points out.
The Wall Street Journal notes that while new car purchases are happening more frequently, and at higher prices, used car prices are finally starting to dip, which may be a relief to low-cost and entry buyers.
More by Aaron Cole
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Hey look at that timeless attractive Lexus just sitting there minding its own business!
Sure doesn't seem like it. When I am really bored at a long stop light I will entertain myself with counting off the cars that are 10 years or older as they drive by the other direction. This game does have some variance as to what part of town you are in, but either way, there are still a lot of heaps gracing our motorways everyday. I am not the best on platform codes, but holly smokes there are a lot of 2006 and older Tahoe/Suburban/Yukon/Escalade still plying the streets.
"Automakers such as Honda and Chevrolet will introduce newer versions of their Accord and Malibu respectively in the coming months, and that should further stoke car sales, Automotive News points out." - Don't think new versions of sedans will stoke sales for too long. with the possibly exception of the new Malibu which addresses the no.1 issue with the outgoing model - cramped interior room. There might be a temporary bump, but the exodus to crossovers will continue.
"Spurred by cheap gas prices, trucks are pacing the overall market as the fastest-selling segment in the U.S. this year. Sales of trucks grew 13 percent this year." I hate how stupid and short-sighted Americans are sometimes.