NADA: U.S. Auto Sales to Climb 7% in 2013

Automakers will sell about 15.4 million cars and light trucks in the U.S. this year compared with 14.4 million units in 2012, the National Automobile Dealers Assn. predicts.

NADA Chief Economist Paul Taylor expects the American car market to keep growing because of pent-up demand, an improving job prospects and a wider choice of new models.

Taylor also cites the greater availability of low-cost auto loans, a shortage of used vehicles and a recovering housing market. The latter tends to make consumers more confident about their net worth and thus more willing to make big-ticket purchases, he notes.