3/25/2014 - New car sales in 2014 expected to outpace a strong 2013
After a stellar 2013 where automakers and dealers were able to move a prodigious number of new cars, the nation's leading vehicle valuation company projects that 2014 has the potential to be a great year for car sales as well.
According to Kelley Blue Book, an estimated 16.3 million new-car units are anticipated to be bought and sold over the remainder of 2014. If that total is reached, it would outdo 2013 by roughly 4.5%.
Much of the optimism appears to stem from how auto sales performed in December, The Irvine, Calif.-based automotive industry resource determined that nearly 1.5 million new vehicles sold in the last month of 2013, putting the total number that were bought in the 12-month period overall at just over 15.6 million. That's an 8% improvement from 2012.
"For consumers, this is generally the best time of year to purchase a new vehicle," said Alec Gutierrez at the time, senior analyst for Kelley Blue Book.
If 2013 is any indication of the type of nameplates new car buyers will be looking to purchase over the remainder of the year, many will stick with domestic brands. Ford was the top automaker in 2013, selling more vehicles than former perennial leader Toyota. Chrysler could make some strides as well. There was a near 11% uptick in purchases of Chrysler-made automobiles, which include the likes of Dodge Jeep and RAM.
Whatever brand buyers decide to go with in 2014, a new car brings the need for auto insurance. As a general rule, new cars tend to be more expensive to insure than pre-owned vehicles. However, working with a Selective independent insurance agent, policyholders can be assured they get the best possible deal on a vehicle purchased just off the showroom floor.