You’ve probably been noticing that fuel prices have been creeping up lately, as usually jittery investors see signs that the economic outlook is improving.
In the automotive sector there’s also some positive news; JD Power and Associates, along with the LMC Authority, are predicting that new vehicle sales in the US will reach 13.4 million this month, up from 12.7 million in December last year, this despite a reduction in sales incentives to move metal during 2011. Current estimates from both groups predict even stronger demand in 2012, with current projections set at some 13.8 million units.
“For the third straight time, light-vehicle sales are posting strong selling rates at the close of the year,” remarked Jeff Schuster, LMC’s senior vice president. “Next year, the automotive industry will look to build upon the strong finish to 2011, but the real test in 2012 will be weathering a summer selling slowdown and posting a full year of a progressive recovery,” he said.
[Source: Automotive News]