Analysts predict 16.7 m. sales in 2015, record 17.5 m. in 2020
Auto sales will be 16.4 million this year, 16.7 million in 2015, and rise to a record 17.5 million in 2020, LMC Automotive senior vice president Jeff Schuster said at a recent industry conference, according to the Detroit News. That figure would top the previous record of 17.4 million in 2000.
Even better, U.S. retail sales will likely reach 13.8 million this year, a near record, said J.D. Power. Incentive spending is up slightly from 2013.
The biggest growth markets in the next few years will be small luxury cars and small luxury SUVs, Schuster said.
The wild card is interest rates. J.D. Powerês Joe Derkos said every percentage point rise in interest rates could cut auto sales by 300,000.Download Bulletin PDF