Posted by: Mark Polk | 2013

Good News for Auto Industry

This week’s Kiplinger Letter forecasts good news for automakers. 

2014 Corvette Reveal at Detroit Auto Show

2014 Corvette Reveal at Detroit Auto Show

Auto and light truck sales are strong for 2013, expected to finish nearly 1 million sales higher than 2012 total sales of 14.8 million vehicles.  Next year’s sales of cars and light trucks are forecast to be even stronger at 16.3 million, the highest in sales volume since 2007.

Reasons stated for a fourth straight year of growth are pent up demand for new automobiles and improved fuel economy in new vehicle models. Auto buyer’s have held onto their vehicle’s longer than in the past, with the average vehicle on the road reaching 11 years-old, a record high reported in the August 2nd edition of The Kiplinger letter .  Auto manufacturers have worked diligently to improve technology in engine design, transmission design and areodynamics resulting in better fuel efficiency and stronger sales.

Some vehicles reported to have top sales potential are the newly designed 2014 Corvette Stingray, Chrysler’s new Jeep Grand Cherokee and the redesigned Corolla, a long-tme favorite compact from Toyota.

Source: The Kiplinger Letter, August 2 edition

Mark Polk

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