J.D. Power: New car sales to top 13 million

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According to J.D. Power and Associates and LMC Automotive, the U.S. auto sales rate in December is expected to top 12 million on an annual basis for the fourth straight month. Both firms say that the new selling rate for new cars in December could hit 13.4 million – up from 12.5 million in December 2010.

“For the third straight time, light-vehicle sales are posting strong selling rates at the close of the year,” LMC Senior Vice President Jeff Schuster said in a statement. “Next year, the automotive industry will look to build upon the strong finish to 2011, but the real test in 2012 will be weathering a summer selling slowdown and posting a full year of a progressive recovery.”

Surprisingly U.S. auto sales have been on an upward scale since June, even with weak employment and housing market.

December U.S. auto sales  are scheduled to be reported on January 4.

– By: Omar Rana

Source: Automotive News