The U.S. auto industry is about to close out its best year since 2007, according to forecast predictions.
The Detroit Free Press reports that industry forecasters expect total sales for 2012 to top 14.5 million, including a major sales thrust in December. The total would be 14% more new vehicles than in 2011, and the best since 2007, when sales reached 16.1 million.
According to the article, December sales probably saw a significant growth because people in New York and New Jersey held off purchasing vehicles due to Hurricane Sandy.
Japanese automakers Toyota and Honda showed the most growth, after overcoming Japan’s earthquake and tsunami in March 2011. Forecasters say Chrysler is probably the only domestic automaker to gain market share for the year.
This is the third year in a row where sales rose by more than 10%. Next year, industry sales are expected to top 15 million, thanks to declining unemployment and a recovering housing industry.
Automakers will report December sales Thursday.
Sourced from the Chicago Tribune