U.S. Auto Sales Could Top Forecasts

Washington February 13, 2015; The AIADA newsletter reported that automakers buoyed by rising consumer confidence, falling unemployment, and low gas prices think U.S. auto industry sales could top forecasts, according to a report in The Detroit News.

In January, U.S. auto sales were up almost 14 percent—and sales are strong in the first half of February. At the Chicago auto show Thursday, automakers unveiled new SUVs, pickup trucks, and cars—nearly all with pricier features.

Low interest rates and long-term repayments and low-cost leases are helping auto sales continue to rise for the seventh straight year—the longest continuous improvement in auto sales in a half-century. But sales—after rising 16.5 million in 2014, up 6 percent, for the best year since 2006. Sales are expected to rise this year more modestly.

Nissan Motor's North American chairman Jose Munoz said in a luncheon meeting address in McCormick Place yesterday that the Japanese automaker looks to boost sales to 10 percent market share by 2017 and it is considering new investments. The company has added 9,000 U.S. jobs since 2011 as it ramped up production.

Toyota group vice president and general manager Bill Fay said in an interview that sales were off to a "pretty good start" in February.