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U.S. sales projected to rise 7% as annual rate stays above 15M
Automotive News
April 19, 2013
by Jesse Snyder

Drivers replacing aging vehicles will keep U.S. auto sales "in a healthy holding pattern" in April, J.D. Power and Associates and LMC Automotive said today while raising the forecast for the full year.

April sales will rise 7 percent from a year ago to 1.3 million units, according to the forecast jointly developed by LMC and the Power Information Network.

On a seasonally adjusted basis, an April annualized selling rate of 15.2 million would match March's and extend the 15 million-plus streak to a sixth month.

"The irrepressible buying behavior of consumers is driving auto sales growth in 2013, as consumer spending remains remarkably stronger than the economy suggests it should be," Jeff Schuster, LMC's head of forecasting, said in a statement.

Schuster increased his 2013 forecast to 15.4 million light vehicles from 15.3 million, mostly on expectations of gains on the retail side.

Full article available at link.
 
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