A recent Ally Financial survey conducted at the National Automobile Dealers Association Convention revealed that 60 percent of auto retailers expect their sales to grow by more than 10 percent in 2013.
“We expect 2013 to be a strong year for the auto industry as the economy and consumer credit profiles steadily improve and as new models attract customers to showrooms,” Tim Russi, the president of Ally Financial’s auto finance department, said, according to Repost. “We met with many dealers at NADA who reinforced our position and share our optimism and passion to make it happen.”
More than 54 percent of auto dealers expect consumer confidence to be the driving factor in the 2013 sales increase. Dealers also said that the average age of vehicles on the road, the availability of new automobiles and incentives will contribute to the sales growth. Approximately 50 percent of dealers indicated that consumer credit histories were also improving.
Additionally, 47 percent of dealers said that the used car segment of the market will be the most profitable within the dealership this year, and more than 70 percent of dealers expect sales of finance and insurance products, including vehicle service contracts and certified and limited warranties, to also increase in 2013, Repost reports.