New U.S. Auto Sales to Reach Record 17.5 Million Units in 2015
According to a leading car-buying service, total new vehicle sales, including fleet deliveries, will reach 1,699,600 units in December, a 12.8 percent increase from a year ago and the highest ever for the month.
The likely growth this month will push total annual light vehicle sales to a record 17.5 million units, up 6.1 percent from a year ago. Continued consumer demand, favorable economic conditions and widespread year-end and holiday promotions should lift retail sales 14.2 percent to 1,458,400 units.
The report, issued by TrueCar, anticipates that in 2016, “sales of new vehicles should continue to climb.”
Strong U.S. economic fundamentals that benefitted the industry this year remain in place. Gas prices have stayed notably low, and that should continue in the months ahead; unemployment is projected to hover near 2015’s eight-year low; and GDP remains healthy. Additionally, and despite the recent 0.25-point increase, the federal fund rate remains below historical standards.
Kia may lead the charge in sales gains with a 29 percent rise in volume over a year ago, resulting in the brand’s best December.
Sales of mass-market small utility vehicles, including both subcompact and compact models, are up 419 percent in 2015 versus 2000, the U.S. auto market’s previous volume peak.
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