Auto sales rose considerably during 2011, with industry insiders reporting about 12.7 million units sold during the year. Kelley Blue Book expects the upward trend to continue in 2012, and projects that about 13.3 million cars will be sold. While it still might be down a bit from the 16 to 17 million the industry experienced a decade ago, it is still a sign that consumer confidence is on the way up and now may be a great time to buy a used car.
To get a sense of how far auto sales have come in the last few years, one need only look back to 2009. That year there were just 10.5 million vehicles sold in the United States as the country was still reeling from the economic downturn in 2008.
In addition to the rise in consumer confidence being the force behind spike sales, experts say that many drivers need get in younger cars because the average age of cars on the road is on the rise.
"Sales growth is primarily driven by need and as the average age of vehicle approaches 11 years, consumers will hit showrooms for replacement vehicles," Kelley Blue Books's Alex Gutierez writes.
The need for an updated car,coupled with the fact that other economic conditions, including both unemployment and the housing market, are improving, means that consumers will continue to be less hesitant to spend.
With the improving market, those looking for a used car will want to head to New Jersey State Auto Auction. With a wide selection of makes and models at affordable prices, the dealership provides a great resource for people looking to spend wisely.