Here's Why Auto Sales Will Continue To Surge In 2014
New-car sales in the United States are expected to rise more than 7% in May, continuing 2014's winning streak, two industry research firms said on Thursday per Reuters.
Sales climbed 8% last month, and are expected to be up more than 3% overall in 2014.
The surge was predicted late last year by Edmunds, which said an increasingly aged fleet would help drive more consumers back to the new car market.
According to RBC Capital Market's latest survey, there appears to be no sign that trend will slow down. The firm found that a vehicle's old age was the No. 1 reason for purchasing a new one in May 2014, "consistent with prior surveys," they said.
Here are the full results, with the different columns showing results in recent months and from a year ago. May 2014 is in slate-gray.
Perhaps more frustratingly for analysts, "other” — which RBC does not define — came in second. Fuel economy was third.
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