Finbarr O’Neill: Auto Industry is Looking Good

J.D. Power and Associates - March 27, 2013

Speak­ing at the J.D. Pow­er and Asso­ciates 2013 Auto­mo­tive Forum, com­pa­ny Pres­i­dent Fin­barr O’Neill paints a rosy pic­ture of this year’s auto sales.

Find out more about what O’Neill had to say.

Total U.S. sales of cars and light trucks this year should sur­pass 15.3 mil­lion units, which is up from 14.4 mil­lion unit sales in 2012, O’Neill con­firmed. He also said that new-vehi­cle sales are pro­ject­ed to sur­pass 16.4 mil­lion units by 2015.

O’Neill also told indus­try par­tic­i­pants at the con­fer­ence that retail light-vehi­cle sales are sol­id and increas­ing while the dai­ly rental mar­ket and fleet sales are well under con­trol, which is very dif­fer­ent from the mid-2000 peri­od, when man­u­fac­tur­ers relied too heav­i­ly on dis­counts and fleets.

The glob­al pic­ture is a lit­tle less buoy­ant, accord­ing to O’Neill. There will be slow­er growth, main­ly due to uncer­tain­ty in Europe. World­wide new-vehi­cle sales are antic­i­pat­ed to rise to 82 mil­lion this year from 81 mil­lion units in 2012. Growth will be held back by the finan­cial crises play­ing out in Europe and some slow­down in the world’s largest pas­sen­ger-vehi­cle market—China.

 

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