Automotive dealers expect an increase in sales in 2013, according to a new survey from Chase Auto Finance.
Learn more about what dealers expect to see in 2013.
The Chase Auto Finance Dealer Survey, which reveals dealers’ 2013 expectations on hiring, financing, auto industry trends and the U.S. and local economy, also found that an overwhelming majority of dealers believe the auto industry and their own dealership businesses are improving and primed for growth.
Green Lights Ahead for Sales
Nearly half (45 percent) of auto dealers surveyed expect sales growth between five to 10 percent this year, while 22 percent expect sales to increase 11 to 15 percent. Another ten percent anticipate sales to increase 16 to 20 percent and five percent of auto dealers are planning sales growth of 20 percent or more in 2013.
Specifically, auto dealers expect new and pre-owned sales growth in 2013. Two-thirds (67 percent) anticipate new sales to increase, while 73 percent of dealers expect growth in pre-owned sales. Additionally, dealers expect healthy increases in service sales (49 percent), service contract/warranty sales (48 percent) and leases (42 percent).
Sedans Are Top Choice for Americans
More than half of dealers (57 percent) say the sedan will be the top selling type of automobile in 2013. Trucks (17 percent) are a distant second, followed by crossover vehicles (13 percent) and SUVs (9 percent). The trends look similar for fleet sales, which are an important indicator for economic growth. Dealers who also participate in fleet sales (44 percent) said the sedan is expected to fuel sales growth (53 percent), followed by trucks (47 percent), crossover vehicles (20 percent) and SUVs (20 percent).