U.S. new-car and light-truck sales are headed for double-digit percentage gains in 2011, says Paul Taylor, chief economist of the National Automobile Dealers Association (NADA). Taylor talked with John Batchelor, host of the Johnbatchelorshow.com, and myself.
“Sales will reach 12.9 million new-cars and trucks in 2011,” Taylor says. For 2010 there were 11.55 million light vehicles were sold.
Heres a list of NADAs top five factors that will accelerate new-vehicle sales this year:
1. More new truck and car choices
2. Available credit at historicallly low-interest rates
3. Tax certainty leads to certain growth
4. Stock Market rise boosts luxury car sales
5. Rising gasoline prices expand vehicle sales mix
About NADA: The National Automobile Dealers Association, founded in 1917, represents about 16,000 new-car and truck dealers, with about 34,700 franchises, both domestic and international.