While the overall US economy has seen a slow and grueling recovery, the auto sector has been one bright spot – especially this year. And, according to the National Automobile Dealers Association’s chief economist forecast, the trend will over into 2015.
Next year auto sales will continue to enjoy high figures, as the higher deliveries are also buoyed by the continued low gasoline prices. According to NADA, total sales on new vehicle sin 2015 should see a 16.94 million units figure, up from this year’s expected 16.4 million. That would be great news for the overall auto sector, as this year’s SAAR is on pace to top 16 million autos for the first time since before the latest great financial recession of 2008-2009.
NADA Chief Economist Steven Szakaly said in a statement that “rising employment and wages, continued low interest rates and lower gasoline prices all signal an increase in new light-vehicle sales in 2015,” in a prediction released before the start of the 2014 edition of the Los Angeles Auto Show. According to Szakaly, consistently lower oil and gasoline prices throughout 2015 could see consumers return in even greater numbers to the light-vehicle market after the second-half of next year because they would see both a rise in employees disposable income and corporate profits.