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Dayton Business Journal...
Forecast: U.S. new
auto sales to rise 14%
Tuesday, May 17, 2011
Car sales are expected to pick up steam as the year progresses,
according to a new report.
A.T. Kearney Inc. forecasts 13.2 million new autos will be sold in the
U.S. this year. That would account for a 14 percent rise from the 11.55
million new vehicles sold last year. The study predicts sales will
reach 16 million by 2013.
The report evaluated four factors: overall economic growth, credit
availability, consumer prices and consumer confidence.
It cautions that financing, cost of ownership and unfolding events in
Japan will impact those sales.
In addition to a rise in overall sales, the study shows domestic
automakers may be in a position to capture marketshare, as Japanese car
companies have faced production shortages in the aftermath of the
devastating earthquake.
“Given what we know about production downtime, in 2011 we see 328,000
U.S. customers of the affected brands up for grabs, and more if the
time to wait for a particular brand begins to extend,” said Dan Cheng,
partner and leader of A.T. Kearney’s Automotive Practice.
Both Honda Motor Co. and Toyota Motor Corp. have faced production
slowdowns.
Honda has 2,400 workers at its Anna engine plant, located north of
Dayton, and 225 employees in Troy at a consolidation facility.
While General Motors and Ford Motor Co. have dealt with some production
issues, they sit in a better position to roll out new vehicles and
possibly land those customers.
The return of strong new car sales would be a welcome event in the
Dayton region, which is home to many auto-related companies.
West Chester-based AK Steel Holding (NYSE: AKS) sells steel to many of
the big automakers. Other suppliers to the auto industry with area
operations include Johnson Controls Inc. (NYSE: JCI) and Lear Corp.
(NYSE: LEA).
Read it with links at Dayton Business Journal
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