Analysts see steady increase in U.S. auto sales

Analysts see steady increase in U.S. auto sales

Car and truck sales in the U.S. are projected to grow by as much as two million units annually during the next few years, according to automotive forecasters. And, according to at least one of them, a 17 million sales year could be here as soon as 2016!

Sales will grow to 14.8 million in 2012, 16 million in 2013 and reach 17.2 million in 2016, said Michael Robinet, director of global production forecasts for HIS Automotive, a global forecasting firm. “Sales are being driven by strong vehicle pricing, financing and more available credit,” Robinet said in a presentation to the Automotive Press Association in Detroit.

That forecast is in line with a similar one J.D. Power & Associates has issued for the next few years, though they are not as bullish for 2016 with a forecast of 16.6 million vehicles.

WardsAuto.com, which also tracks vehicle sales and production closely, expects a 16 percent sales increase next year for all of North America to 15.8 million cars and light trucks.

CNW Research is less sanguine, however, noting that while data it tracks on pent-up demand and floor traffic points to a strong December, other data suggests a comparatively small increase in sales for 2011. Consumers remain jittery over the homecentric economic issues that impact their daily lives, like property, state and sales taxes that are likely to increase as communities and states struggle with huge budget deficits, the research firm says in its monthly bulletin. It is forecasting only a modest increase (10 percent) for 2011. It notes, however, that the fundamentals for sustained increases are in place, noting that the average age of a new vehicle buyer continues to decline (now less than 48 years old) while average income is up ($65,672) and average vehicle transaction prices continue to rise ($28,484).