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Posts Tagged ‘consumer sentiment’

Rising Consumer Confidence Driving Surge in Car Sales

2013 set to end as best year since recession began.

by on Dec.26, 2013

Consumers are feeling more upbeat about buying a car as the economy continues to improve.

With the New Year fast approaching, there are new signs the auto industry will finish 2013 with a flourish as consumer sentiment continues to improve along with the job market.

Sales for 2013 are certain to be the best in six years, according to industry analysts who continue to debate just how much more upside potential there is for 2014 and beyond.

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“We expect December to finish strong,” said Larry Dominique, President of ALG and Executive Vice President of TrueCar.com. ”Consumers are taking advantage of low lease rates and inexpensive financing, which continues a shift from buying used to buying new.”

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Rising Consumer Confidence Likely to Buoy Auto Sales

Separate study finds auto lending market loosing up.

by on Feb.29, 2012

Automakers stand to benefit from the rise in consumer sentiment - and an upturn in lending.

A sharp rise in consumer confidence – which helped drive the Dow Jones Industrial Average to a 13,000 close for the first time since 2008 – is likely to also help push the auto industry towards a faster recovery than initially expected.

Consumer confidence, which is also one of the key indicators for car sales, remained strong in February due to a record number of consumers who were aware of ongoing increases in jobs, says University of Michigan economist Richard Curtin, director of the Thomson Reuters/University of Michigan Surveys of Consumers.

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A separate study further buoyed prospects for the auto industry by showing that lenders continue freeing up more cash for potential buyers.

February marked the sixth consecutive month of gains in the Sentiment Index as consumers became more positive about prospects for the economy. But there was a downside, researchers warned.

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