J.D. Power: U.S. Car Sales to Climb 4% This Year

Automakers will sell 15.1 million new cars and light trucks this year compared with 14.5 million units in 2012, according to J.D. Power and Associates.

The gains will be fueled by greater credit availability, consumer confidence and the need to replace aging vehicles, the research firm opines. It expects U.S. volume to reach 15.7 million units next year and 16.3 million units in 2015.

In Europe, Power forecasts that sales will slide to 12.7 million vehicles this year from 13.1 million in 2012. The firm predicts that volume in China will surge to 27.2 million vehicles in 2015 from 19.1 million units last year.

Worldwide auto production worldwide will rise to 82.7 million vehicles in 2013 from 81 million units last year, according to the firm. It expects global output to jump to 89.7 million vehicles in 2014 and 96.0 million in 2015.