January 2nd, 2015
A report from TrueCar indicated the number of new cars and trucks sold in the U.S. will be 2.6 percent higher in 2015, reaching 17 million units. Including used vehicles, TrueCar predicted auto dealers will sell a total of 55.4 million automobiles.
Across the board, the auto industry will see significant improvement from 2014, with the source expecting luxury auto sales, utility vehicles sales and average prices to rise in the new year. With the economy recovering and job growth occurring in many sectors, Americans are in better shape than they were in past years, and this trend is likely to continue into 2015 and beyond.
Much of the room for growth comes from the fact that gas prices have been considerably lower in recent months, providing drivers with the chance to save money at the pump. In addition, this saving has helped fund new car sales.
"We see a convergence of favorable economic circumstances pushing auto demand up to pre-recession levels, including continued gains in the job market, the best consumer sentiment in eight years and low fuel prices," said President of TrueCar John Krafcik. "This year has been remarkable in terms of growth and revenue coming from big gains in pickup, utility and luxury vehicle sales. We think 2015 will be even better."
Best vehicles for 2015
Because many Americans have higher levels of discretionary income than in the past, the opportunity to purchase new vehicles is vast. And with economists predicting gas prices to remain low for some time, consumers will be looking to buy the best vehicles for the new year.
Forbes noted the top-10 vehicles for 2015 will be:
The auto industry is trending toward lighter-weight vehicles and those with higher fuel economies. Further, with new advancements in the field of in-car technology, many new cars will contain updated safety and security features.
With advanced features, drivers may be eligible for auto insurance discounts. Providers typically offer discounts on cars that have superior security systems because they make drivers less likely to file claims relating to theft.
If you're looking to save money in 2015, speak with your insurance agent to see if you qualify for rebates or discounts.
CoverHound is a leading source for car insurance quotes.