PwC’s Autofacts Forecast Places New-Vehicle Sales at 14.5M for 2012

Despite sluggish economic growth, new data from PwC’s Autofacts pointed toward new-vehicle sales reaching 14.5 million in the U.S. this year while moderately increasing in 2013.

PwC’s Autofacts attributes this growth to factors including the return of automotive financing and subprime loans, coupled with pent-up demand from an estimated 11 million consumers who have deferred their purchases of new vehicles.

“There is still room for growth in the light vehicle auto market, and opportunities exist within the profitable subprime market,” said Kevin Roberts, lead North American analyst for PwC's Autofacts.

“Subprime consumers make up more than 35 percent of the U.S. population, but only 25 percent of new auto loans,” Roberts continued. 

“Outside of contraction caused by euro zone issues, the U.S. auto market should be well-positioned for further growth as sales return to normal and more consumers find readily available financing,” he went on to say.