If you thought 2015 was a good year to be in the automobile business, you’ll love prospects for 2016. And December is a good time to start gearing up.
Typically one of the best months of the year for selling cars, December is expected to top off a record year after a very strong November and set the table for another possible record next year.
“U.S. auto sales are now clearly on the path to set a record in 2015, with volume we haven’t seen in 15 years,” said Jeff Schuster of LMC Automotive, a marketing intelligence firm.
But there’s little time to relax afterward with tax season and the big month of March around the corner.
While 2015 has seen tremendous and consistent growth in new-vehicle sales, new-car and light-truck sales should go even higher in 2016, Steven Szakaly, National Automobile Dealers Association chief economist, said during a recent press conference, according to F&I Showroom.
“New light-vehicle sales will rise to 17.71 million units in 2016, a 2.3 percent increase from our forecast of 17.3 million sales in 2015 … the seventh straight year of increasing new-vehicle sales,” said Szakaly.
Some experts say 2017 will be even better for light-vehicle sales, hitting 18 million before leveling off.
And the positive outlook isn’t limited to new-vehicle sales, according to industry experts.
“We are looking for used-vehicle sales to continue to grow as we move into 2016,” Tim Fleming, Kelley Blue Book analyst, recently told Auto Remarketing. “Prices should continue to ease from record highs seen a few years ago, making the used market even more attractive to consumers.”
Overall, franchise dealers sell nearly as many used cars, trucks, SUVs and minivans as new vehicles – more than one-third of all used vehicles sold – based on data from CNW Marketing Research. The remainder is sold by independent dealerships and in private-party transactions.
Santander Consumer USA plans to help franchise dealers make the most of the 2016 opportunity by providing support through our knowledgeable sales-and-marketing team, email content and blog posts. If you have questions about working with Santander Consumer USA and Santander Auto Finance, talk to your sales representative or area sales manager or request a visit from a representative online.