Edmunds.com, announced that it sees reason for the automotive industry to be optimistic about car sales for the rest of the year, and is raising its 2013 light vehicle sales forecast to 15.5 million.
The industry hasn't achieved that level of annual sales since 2007, the company stated.
"Car shoppers seem unfazed by fiscal issues in the news," commented Edmunds.com Chief Economist Lacey Plache, PhD. "Even though consumer confidence has been up and down so far this year, there are 'wealth effects' that are making Americans feel comfortable finally buying the new cars they've been waiting for."
The industry noted that more car leases are set to expire in the second half of this year than the comparable period last year, which means that a number of car shoppers will be in market then regardless of state of the economy. That is likely to give the industry a solid year-over-year increase even when taking into account the strong 2012 finish.
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