Auto Dealers Confident of 2013 Sales Growth

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The Financial - February 6, 2013

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).

 

 

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