It’s no secret that the past 5 years have been tough for the auto industry when it comes to new-vehicle sales. But data from Autodata Corp. for June 2013 show a strong increase in sales that harkens back to numbers seen before the recession hit. Automakers sold 1.4 million cars and light trucks in June. This pace puts 2013 on track to be the best year for new-car sales since 2007.
What does that mean for you? According to General Motors Co.’s chief economist Mustafa Mohaterem, it means that you’re most likely better off than you were a couple years ago. Since new-car dealerships haven’t cut prices to extreme lows yet, it shows that demand is real, and drivers are willing to pay for new cars.
Apart from increased consumer confidence, light truck sales also saw a boost because of home-building and energy sector activity. That points to health in certain job sectors that contribute to economic growth.
Have you felt this reported surge in consumer confidence? Are you considering buying a car or truck? If so, how have you been doing your research? What has the experience been like for you? Let us know in the comments.