WITH new vehicle sales topping 15 million this year in the US, the auto sector is likely to become one of the key drivers for the economy’s recovery, opined a market research analyst.
Anthony Pratt, director of forecasting for the Americas at Polk, said in a statement that the forecast was related to the sector’s strength amid robust demand through the end of 2012, with estimated sales of 15.2 million vehicles. He also added that the figures are bolstered by growth in the large pickup truck sector and an improving economy. New car and truck registrations, which closely track sales, are expected to rise 6.6% in 2013 to 15.3 million vehicles.
Meanwhile, the research firm Polk projects registrations to rise to 15.8 million vehicles in 2014, and 16.2 million in 2016, to settle at 16 million in 2016.
It also said that new vehicle introductions in the U.S. market will rise dramatically in 2013 to a projected 43-50 % from 2012, and also this year, 60 vehicle redesigns are expected along with the growth in the full-size pickup truck segment and the midsize sedan market.(RJA)
Asia's First E-Magazine for the Rubber Industry