Despite slowed economic improvements, the automotive industry continues to fare well.A monthly sales forecast by J.D. Power and Associates indicates September sales are set to remain on target with an 11 percent annual increase predicted earlier this month. Overall vehicle sales should reach an estimated 1,152,700 units by the end of the month. Certain vehicle classes are faring better than others, as J.D. Power predicts subcompact, compact and midsize sedans will all see increases of at least 25 percent over last year. Large trucks, and SUVs will not fare so well, suggesting a consumer push for smaller, more fuel efficient models.
"Retail sales in early September were 15 percent higher than they were a year ago, which is reflective of a healthy market," said John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates. "We expect retail sales to level off through the rest of the month, but still remain a strong share of total sales."
There are many different factors influencing vehicle sales, including increased supply as Japan recovers from the 2011 earthquakes. Consumer confidence is another reason more cars are being sold. While the economic recovery is not happening quickly, the improvements are enough to make drivers feel comfortable trading in their current models. For those who are still on a tight budget, New Jersey Auto Auction offers a wide selection of used makes and models at affordable prices. Every vehicle on the lot is CARFAX certified, allowing car shoppers to feel confident that they are getting behind the wheel of a reliable ride.