Thursday, December 29, 2011

Report: Analysts predicting up to 14M auto sales in 2012

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Automotive industry analysts are projecting a better sales year in 2012. According to Automotive News, a number of culminating factors could see sales of up to 14 million units next year. That's thanks to factors like decreasing unemployment, improved credit availability and a larger portion of the population looking to replace older vehicles. Don't think that means the overall economy will be any stronger next year, however. According to the studies, buyers have simply grown more callous to news of repeated financial crises and aren't likely to let that news impact their new vehicle purchases. While the ink hasn't dried on 2011's sales figures, the national tally is expected to wind up somewhere around 12.6-12.7 million new car sales.

That view is largely based on a scenario that played out earlier this year. When Congress faced off over the nation's debt ceiling, the Dow Jones Index plummeted by 1,500 points. In the past, that would have translated into decreased auto sales, but the numbers have stayed steady this year.

Throw in pent-up demand from buyers waiting for sunnier economic times and more free-flowing credit and automakers may just meet the 14 million unit mark.

Analysts predicting up to 14M auto sales in 2012 originally appeared on Autoblog on Wed, 28 Dec 2011 17:35:00 EST. Please see our terms for use of feeds.

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