Auto execs expect US light vehicle sales to top 16 mil next year

Article by Anita Panait, on November 21, 2013

Top executives from Kia, Mazda and Toyota are expecting light-vehicle deliveries in the United States in 2014 to reach around 16.1 million to 16.2 million vehicles. Sales of cars and light trucks in the US have surged 8 percent in the first 10 months of 2013 and are on pace to reach the mid-15 million range for the year. This would be the auto industry’s fourth straight year of sales increases, after three years of at least a 10-percent gain. Robust sales have been attributed to easing credit standards, low financing offers, new models and pent-up demand. Jim O'Sullivan, chief executive of Mazda North American Operations, remarked during a panel discussion at the J.D. Power Western Automotive Conference that he expects three to five more years of good sales growth in the US.

According to O'Sullivan, economic headwinds -- sluggish job growth and slow-rebounding housing markets -- will keep growth in auto sales slow and steady. He noted that there are several things “that need to be worked out," adding that as long as the industry sells around 16 million units, it still has three to five years of growth ahead of it.

Bill Fay, Toyota Division general manager, echoed similar expectations that sales will exceed 16 million units in 2014. Fay noted that the rate of growth in 2014 would moderate from what the industry has felt in the last few years. Tom Loveless, executive vice president of sales at Kia Motors America, sees the growing share of retail shares against fleet deliveries as a positive development.

Topics: united states, sales

If you liked the article, share on:

Comments

Recommended

The long awaited 2018 Buick Regal GS has finally been revealed by the company, following several leaked photos and information in the past few months. The thing is, if you’ve...
by - July 20, 2017
Earlier this month, we learned that France has made moves to ban diesel and gasoline fueled cars by stopping them from entering the city. More than that, they plan to...
by - July 19, 2017
The new 2018 Rolls-Royce Phantom VIII is on the way, but still, all we had been seeing are camouflaged prototypes of the eight generation of this iconic nameplate. Fortunately though,...
by - July 19, 2017
Would you have ever imagined a Mercedes-Benz developing an upscale pickup? We first saw this last October as a concept car and now, the production model of the Mercedes-Benz X-Class...
by - July 19, 2017
Haven’t you ever wondered how Ferrari’s names and numbers were actually derived? As it is Ferrari’s 70th year in the industry, we believe that it’s only fair that we shed...
by - July 18, 2017
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