The US auto market is close to an all-time sales record, but the projections are indicating two more years of strong figures.
The auto sales this year are on the right track to top the all-time record in the US, with November marking the 23rd consecutive month of record-setting revenue for the auto industry. And this direction will be maintained in the future, as the solid economy will keep the demand at high levels. The automakers are forecasting at least two more years of sales over 17 million cars and light trucks. “We think there’s another good, solid 22, 24 months at this level,” said Bob Carter, senior vice president of Toyota’s US auto operations. “The economics, the interest rates, the employment — everything pretty much says that we should remain at this level in 2016 and 2017”.
But not only the auto companies are being optimistic, as the analysts are sharing the same opinion. A recent forecast made by the National Automobile Dealers Association indicates that 17.7 million new cars and light trucks are to be sold next year and 17.2 million units for 2017. If this is going to happen, it will be a first for the industry to exceed 17 million vehicles for three consecutive years. “If you’re not enjoying this industry [now], then you ought not to be in the car business,” Carter added. “This is really as good as it gets.”
The November sales reports showed that almost all major carmakers experienced sales growth in the US, with a seasonally adjusted annualized selling rate for last month at 18.16 million vehicles. “We keep waiting for the bottom to fall out, but it doesn’t happen. The market just keeps going,” said Doug Waikem, whose family owns stores selling seven auto brands in Massillon, Ohio. “This is just a good, steady market right now.” Therefore, a 17.4 million volume is highly probable for this year, reaching the year 2000 sales record.
Via Automotive News