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Clint Dixon
28 September 2012
Recently the economy has been looking up and the unemployment rate has been going down. This means that there are more people with money to spend on brand new cars and this is what has happened. This August has been a great month for car sales as new car sales have beaten estimates. Anytime when markets are beating their estimates it is a good sign that the market is safe from falling. General Motors, Ford, and Chrysler all saw over a 10% increase in new car sales from last August. The rate of this increase is likely to continue until car sales reach the point from where they were at before the 2008 economic collapse.
General Motors reported a 11% increase in sales over from last August compared to the estimate at Edmunds.com of 6.4%. They nearly doubled the estimates in car sales. Not only this but selling cars has been even easier for these companies then it has been ever. Consumers do not need as many incentives as they once did for buying a car and did not need special prices or sales. The buyers knew exactly what they wanted and a special price on a different car did not effect their decision whatsoever.
New car sales this month are in agreement with the trend of smaller, more fuel efficient cars. During the summer months gas is at the height of it's price and many want to find ways to save money on this. Small cars are extremely popular right now because they are fuel efficient but they also come with the same luxuries that a bigger car would have. These small new cars that are being bought at an astonishing rate and adding to new car sales are fitted with the latest technology and safety specifications. While they do not have as much space, the buyer has gravitated towards their money saving qualities.
There are many things to consider when choosing a car but new car sales have told automobile makers what the buyer wants. However, since new car sales have been up an astonishing amount this year the automobile makers are not too worried. There are no longer as many one day super sales or extreme incentives to sell cars since the buyer knows exactly what they want. There may be a time and a place to worry about new car sales in America but currently due to the slowly rising economy no one needs to.