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New Vehicle Sales Expected To Stay Positive For The Forseeable Future

Aug 27, 2014

Economists, who were part of a panel at the recent Center for Automotive Research’s annual Management Briefing Seminars, predicted that new car and truck sales will remain around the 17 million vehicle mark through 2018 as consumer confidence continues to improve and consumers continue replacing their older vehicles. While sales are at a strong pace now, a drop in the number of younger buyers is keeping sales increases from going through the roof. Analysts say some younger buyers are delaying their purchases because of economic factors, such as high student loan debt.National Automobile Dealers Association (NADA) chief economist Steven Szakaly predicts the sale of 16 million to 16.2 million vehicles this year, and said the industry should grow until at least 2018, when fuel economy regulations could drive prices up. Sales have been steadily rising since 2010 after falling to 10.6 million in 2009.