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Edmunds Boosts U.S. Sales Outlook for 2013
Auto data provider Edmunds.com has raised its forecast for U.S. light vehicle sales this year to 15.5 million units a jump of 1 million units from 2012.
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Auto data provider Edmunds.com has raised its forecast for U.S. light vehicle sales this year to 15.5 million units, a jump of 1 million units from 2012.
Volume of the magnitude Edmunds now projects would mark the highest level since 2007. Demand totaled 14.5 million vehicles last year.
The online service began 2013 predicting U.S. sales of 15 million units. Edmunds says it has become more optimistic because U.S. deliveries have been strong throughout the first quarter.
Car shoppers don't seem to be fazed by the country's fiscal problems, the firm notes. It says consumers are replacing aging models because of the "wealth effect": the financial comfort caused by increasing home prices, the rising stock market and higher household income.
America's construction rebound is fueling demand for fullsize pickup trucks, according to Edmunds. It also expects a wave of auto lease expirations in the second half of this year to buoy sales.
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