Sales of small cars, SUVs and other light trucks will lead the way toward what Paul Taylor, chief economist of the National Automobile Dealers Association, predicts is a rebuilding year for the auto industry resulting in 13.945 million new cars and light trucks purchased and leased in 2012.
Fulfillment of that forecast in 2012 will mark the third consecutive year of rising new vehicle sales. In 2009 the auto industry, like the rest of the U.S. economy, hit a roadblock and only 10.4 million new cars and trucks were sold, down from 13.2 million units in 2008. In 2010 the sales grew to 11.55 million and in 2011 another boost brought the figure to 12.7 million.
Although Taylor predicts that sales will grow this year to a stronger level, the industry is not yet ready to return to a repeat of the 16 to 17 million unit highs seen during the 2000 to 2007 years.