Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.