US vehicle sales jump 14% in January 2013 to over 1 million

Article by Anita Panait, on February 6, 2013

Vehicle sales in the U.S. jumped 14% in January 2013, thanks to strong demand for mid-sized cars and pickups. The five largest carmakers in the US all logged double-digit growths in the month, while all three Detroit companies gained market share in the period for the first time since August 2011. It was also the first January in which vehicle sales in the US exceeded 1 million units since 2008.

The strong vehicle sales in the first month of 2013 boosted confidence that the auto industry would grow into a six-year high this year. The results also minimized worries that a decline in consumers' take-home pay would make them more adamant in buying more expensive items. Bill Fay, Toyota Division general manager, said that the sales pace in the fourth quarter 2012 “rolled right” into January 2013, adding that it was a great start for the year.

However, the auto industry's seasonally adjusted annualized selling rate in January 2013 dropped faintly to 15.3 million from 15.4 million in December 2012. But that rate was much higher than in January 2012 at 14 million. If the growth rate continues, total vehicle sales for 2013 would fall in the middle of analysts and carmakers' projections, which range from 15 million to 15.5 million.

Paul Taylor, chief economist for the National Automobile Dealers Association, told Automotive News in an e-mail that a difficult recession in the past and slow recovery currently cannot stop the momentum that low interest rates bring to new-car sales. Taylor noted that consumers are replacing their old cars, and the constrained demand combined with low interest rates as well as a growing economy contributed to a strong January performance. John Garff, chief executive of Garff Enterprises, told Automotive News last week that new-car sales in January 2013 were tracking 22% higher than in the same month in 2012.

Topics: united states, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Volvo has revealed that while its products are used by a number of police organizations around the world, it will be the Swedish police that will get the first chance...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries