U.S. auto sales hit a big month this August. Recent sales numbers are indicating that the auto industry has finally recovered from the recession. Several factors including less completion and high consumer purchasing are leading this year to be the best year since the downturn.
Nationwide, auto sales are on track to exceed 14 million this year. This would be the industrys best performance since 2007. In August alone, nearly 1.3 million units have been sold. This is a 20 percent increase from August last year.
There are several factors that auto specialists are applying to this recent boom. First, consumers are finally purchasing those cars they have had an eye on for several years. The recent recession brought down consumer purchasing confidence, but now that the economy has turned around they are ready to buy. The average vehicle on the road in the U.S. is a record 11 years old. Consumers have waited long enough, and have decided to trade in their old cars for something new.
Many auto dealers have shown improvement
simply because there are fewer competitors as well. A Detroit-based consulting firm, Urban Science, released that there were 17,770 dealerships operating nationwide as of June. This is a 15 percent decrease from five years ago. A large factor to this number is the fact that several small, underfinanced dealerships were forced to close at the height of the recession. General Motors and Chrysler are also in the process of downsizing their dealer networks.
Honda is happy to see their numbers soar as well. Honda auto sales rose 59.5 percent to 131,321 vehicles. This was largely due to an 89% rise in sales of the popular Honda Accord. With numbers continuing to grow, and several new models set to release, Honda is excited about what the future has to offer.
Ready to finally purchase that Honda of your dreams? Stop by Nashville, TNs Trickett Honda today. Their sales associates will be happy to assist you. A list of current inventory as well as popular vehicle specials can be found on their website, www.TrickettHonda.com.