NADA economist: 15.4 million in U.S. vehicle sales this year
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ORLANDO -- With the U.S. economy gaining momentum, NADA chief economist Paul Taylor predicts industry sales will top 15.4 million vehicles this year.
That would be an increase of nearly 1 million vehicles from 2012. Speaking at the National Automobile Dealers Association convention here, Taylor said stronger auto sales will be supported by pent-up demand, available credit, more new-vehicle choices, declining unemployment, a used-vehicle shortage, improving home values and the fact that the United States avoided the fiscal cliff.
Dealerships will continue to experience pressure on margins and net profits.
Said Taylor: "But an improving economy is going to assist the dealerships in getting back into good financial conditions."
You can reach Amy Wilson at awilson@crain.com.
