Car shoppers are giving automakers a Christmas present -- brisk December sales that will finish 2011 on a high note, top forecasters said today.
New-vehicle retail sales in December are projected to come in at 1,033,700 the first time retail sales will top 1 million since the Cash for Clunkers federal rebates drove strong sales in August 2009, according to J.D. Power and Associates and LMC Automotive.
Retail sales in December are on track to increase 8% compared with the same month last year even though incentive spending is about 10% lower than last December, John Humphrey, Power's senior VP of global automotive operations said.
Total industry sales including retail (the most profitable) and fleet are expected to top an annualized pace of 13.4 million in December. That pace is nearly million higher than last December's pace of 12.5 million.
Auto industry closing 2011 with strong December sales
New-vehicle retail sales in December are projected to come in at 1,033,700 the first time retail sales will top 1 million since the Cash for Clunkers federal rebates drove strong sales in August 2009, according to J.D. Power and Associates and LMC Automotive.
Retail sales in December are on track to increase 8% compared with the same month last year even though incentive spending is about 10% lower than last December, John Humphrey, Power's senior VP of global automotive operations said.
Total industry sales including retail (the most profitable) and fleet are expected to top an annualized pace of 13.4 million in December. That pace is nearly million higher than last December's pace of 12.5 million.
Auto industry closing 2011 with strong December sales