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.