It’s no secret that the United State’s automotive industry had been struggling as of late. This is largely due to the widespread economic downturn the country had been mired in. But that all changed in 2015 and in a big way. And that’s because car sales in the United States are on pace to set a record this year.
The previous high for the number of vehicles sold in a year is 17.4 million which was set back in the year 2000. It is estimated that by the end of November sales will top 15.8 million with plenty of time left to break the record.
But the question is then, why the decisive change? Why are cars being sold off at such a high rate now? Well there are a few reasons. First, the low gas prices have helped. People are feeling more encouraged to go on trips and are upgrading their vehicles on the way. There are also a lot of car loans available for shopper now and thanks to this competition car buyers are getting very favorable terms on these loans. Combine this with strong employment and a demand for cars that hadn’t been met in previous downturn years and you have a perfect storm for car sales.
There are additional contributing factors to this upswing in car sales but what’s most surprising about this is that industry experts didn’t think auto sales would rebound this quickly. Auto sales hit near record lows in 2009 amidst the bankruptcies at GM and Chrysler. But since then sales have improved each year up to 2015, which looks as if it will be a banner year for the automotive industry.
This is great news and naturally we’re always rooting for the auto industry. They’re essential to our business and this is especially true when you consider how many people are buying cars online and having them shipped to their home. But even more than that, a strong auto industry is great for America and it is really a relief to see it rebound in such fashion. For more on the resurgent auto industry you can read the full article on CNN.com.
Comments by John Costelac