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PwC: New Light Vehicle Sales of 14.5 Million In 2012 Forcasted
October 2, 2012
By Rob Starr, Content Manager, Big4.com
According to new data from PwC’s Autofacts, it is expected that new light vehicle sales will reach 14.5 million in the US in 2012, and moderately increase in 2013. Autofacts, PwC’s automotive forecasting service, is a provider of automotive market analysis, strategy development, and competitive intelligence to the world’s leading vehicle manufacturers, automotive suppliers, and support organizations. Autofacts service offerings are available on-demand, for one-time purchase and through an annual subscription basis to access the on-line portal with Autofacts’ proprietary data query tool. For more information regarding Autofacts, please visit www.autofacts.com.
This growth is attributed to factors including the return of automotive financing and subprime loans, coupled with pent-up demand from an estimated 11 million consumers who have deferred their purchases of new vehicles.
Kevin Roberts, lead North American analyst, PwC’s Autofacts. comments:
“There is still room for growth in the light vehicle auto market, and opportunities exist within the profitable subprime market,”he says. “Subprime consumers make up more than 35 percent of the US population, but only 25 percent of new auto loans,” he said. “Outside of contraction caused by euro zone issues, the US auto market should be well-positioned for further growth as sales return to normal and more consumers find readily available financing.”
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