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GM: Trends Point to Another Record Sales Year in 2016
General Motors Co. says easy credit, cheap fuel, a growing economy and an improving job market will combine to deliver another sales volume record in 2016 for the U.S. auto market.
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General Motors Co. says easy credit, cheap fuel, a growing economy and an improving job market will combine to deliver another sales volume record in 2016 for the U.S. auto market.
Last year the market expanded 6% to 17.47 million cars and light trucks, according to Autodata Corp.
GM Chief Economist Mustafa Mohatarem says a bevy of new products and evidence that young consumers are finding jobs also will contribute to unspecified market expansion this year. He tells Automotive News the surprise in the last quarter was that demand rose even though sales incentives didn’t.
The Power Information Network, which tracks auto market trends through data collected directly from dealers, figures the average selling price of a new passenger vehicle last year was a record $37,000 compared to about $35,900 in 2014. GM’s transaction average rose $630 to a record $34,500.
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