U.S. light-vehicle sales probably rose in December to wrap up a three-year run unrivaled in almost four decades as consumers replaced cars and trucks that are, on average, the oldest ever on the nation’s roads.
Car and light truck sales in the U.S. probably rose 9.6 percent in December, according to a Bloomberg survey of analysts. That would cap a third-straight annual gain of at least 10 percent, the first such industry streak since 1973.
“It sure feels a lot better to be selling cars today than a few years ago,” Geoffrey Pohanka, president of the Pohanka Automotive Group, said in a telephone interview. “The age of the fleet and the attractiveness of a lot of cars that are being designed now are going to help sustain sales going forward.”
That confidence in continued demand has his Washington, D.C.-area dealer group expanding only a few years after retrenchment. Pohanka closed three Saturn stores and a Chrysler- Dodge outlet as part of the 2009 restructurings of the predecessors to General Motors and Chrysler. In 2013, he plans to build a second Honda store in as many years and also will add a new Volkswagen dealership.
U.S. light-vehicle sales in December likely climbed to 1.36 million, the average of estimates by nine analysts surveyed by Bloomberg. That would push deliveries for the full year to 14.5 million, the best annual total since 2007.–Article courtesy of Bloomberg