Kelley Blue Book weighs in: New-car sales to surpass 15 million in 2013
New-car sales in 2013 are expected to exceed 15 million, driven by replacement demand, low interest rates and compelling product redesigns and introductions, says Kelley Blue Book.
These factors have kept vehicle sales moving forward despite powerful economic headwinds, and Kelley Blue Book analysts believe demand will remain strong enough to drive sales even further along next year, says Alec Gutierrez, senior market analyst of Automotive Insights.
The forecast was made before Hurricane Sandy, which could pump up future sales. It is in line with a similar forecast by Edmunds.com a month ago. Both expect 2012 sales of 14.4 million.
Kelley Blue Book expects 300,000 to 500,000 additional buyers to enter the market next year, thanks to the rebound in leasing that started in 2010. About 600,000 more vehicles were leased in 2010 than in 2009.
Consumer confidence and unemployment figures are highly correlated to vehicle sales, says Gutierrez. Both are improving modestly, but not at levels that would support sales of 16 million or more.
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