Thursday, January 24, 2013

Forecast: Solid Auto Sales in January

by Bill McBride on 1/24/2013 02:32:00 PM

From January Auto Sales Suggest the Good Times Will Keep Rolling in 2013, says ... forecasts that 1,045,587 new cars and trucks will be sold in the U.S. in January for an estimated Seasonally Adjusted Annual Rate (SAAR) of 15.3 million light vehicles. The projected sales will be ... a 14.5 percent increase from January 2012.

“January’s numbers show that vehicle sales stayed strong, even after the holiday ads faded away and the replacement sales following Hurricane Sandy started to dry up,” says Senior Analyst Jessica Caldwell. “These results certainly reinforce the exuberance and optimism that filled the air last week at the North American International Auto Show in Detroit.”
It looks like auto sales are starting 2013 fairly strong.

The following table shows annual light vehicle sales, and the change from the previous year.  Light vehicle sales have seen double digit growth for three consecutive years, but the growth rate will probably slow in 2013.

Light Vehicle Sales
Sales (millions)Annual Change