DETROIT (TheStreet) -- U.S. auto sales not only showed an increase for the fourth consecutive year in 2013, but also are expected to continue rising in the current year.
December and full-year U.S. light-vehicle sales are scheduled to be reported Friday. December sales are expected to gain about 5%. For the full year, sales are expected to total 15.6 million to 15.7 million units, up from 14.5 million units in 2012. Sales have increased steadily since 2009, when they dropped to a 27-year-low of 10.3 million units.
"The budget deal in Washington is helping fuel a higher level of optimism for the economy and auto sales in 2014," said LMC Automotive analyst Jeff Schuster in a prepared statement. "December sales faced some challenge early in the month, with some sales that pulled ahead in November and winter storms. They have rebounded well, and the year ahead is set up to edge new-vehicle sales closer to pre-recession levels."
LMC Automotive said it expects 2014 light-vehicle sales of 16.2 million, which would be back to pre-recession levels. Sales totaled 16.1 million in 2007 and 16.5 million in 2006. Kelley Blue Book forecasts 2014 sales of 16.3 million.
Sterne Agee analyst Michael Ward expects sales of 15.8 million. "Heading into 2014, we expect U.S. light vehicle sales to continue at the current pace, suggesting a range of 15.8 to 16.3 million units," Ward wrote in a recent report. "Our current forecast is at the low-end of the range."
Ford (F) said Monday that it expects to retain its title as the best-selling vehicle brand in North America and to widen its lead over Toyota (TM). In 2012, the Ford brand led Toyota by 329,677 vehicles. Through November, Ford's lead over Toyota was 396,041 vehicles. Through November, Ford brand retail sales were up 15%, while overall sales were up 12%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV