Do car sales stay consistent year after year? The hype about car sales is that people will always need vehicles, so they’ll always purchase a car when they need one. The statistics, however, don’t necessarily prove that viewpoint on a month-to-month basis.
Car Sales Trends
Sales of large cars are down 16.3% in 2014 compared to 2013.
Car sales statistics are often seen as a future indicator of how an economy is going to fare. Although one month out of 12 is no means the final nail in the coffin of a future economy, the fact that all car sales are down when compared to 2013 does not make the future outlook of the American economy look to be positive.
A Weakened Retail Market
Sales figures prove that there is a weak retail market.
1. All car sales are down 8.3% in 2014 when compared to 2013 sales statistics.
2. Luxury vehicles fared the best in the year-by-year comparison, only falling by 0.4% in 2014 when compared to 2013 sales levels.
3. Only Chrysler was able to post a statistical sales gain in this comparison period out of all American automakers.
Takeaway: Americans especially are less confident at the beginning of 2014 as to where the economy is heading in this year. Coupled with weaker Black Friday sales in 2013, it is safe to say that Americans are less confident this year than they were last year.
General Car Sales Statistics
1. Foreign manufacturers of cars are seeing stronger overall sales than American automakers.
2. Nissan saw the largest increase in sales of all vehicles when compared to 2013 with an 11.8% increase in sales for 2014.
3. Luxury car makers also saw some dramatic increases in sales. BWM, for example, realized a 10.5% increase in overall sales.
4. The biggest increases in vehicle sales aren’t coming from cars, but instead are in SUVs or pickup trucks.
5. The vehicle with the largest sales increase in 2014 when compared to 2013 is the Nissan Rogue, which saw a 54.5% increase in sales.
6. The top 20 vehicle which saw the biggest decrease in overall sales was the Toyota Camry, which saw sales dip by 26.9%.
7. General Motors, despite seeing sales decrease in this year-by-year comparative period, still continues to lead all manufacturers in overall sales with over 16% of the total American market.
8. Light trucks made by Subaru saw the biggest increase in sales overall with a 65% increase over 2014 numbers.
Takeaway: The issue that Americans are facing with automobile sales is that cars just aren’t able to get the job done as effectively as before. When a regular vehicle costs as much as an SUV or a pickup truck, buyers are headed toward these larger options, especially since flex fuel options level the playing field for gas mileage. Until more value can be seen in economy vehicles, many buyers are willing to invest a couple thousand extra dollars to get something they feel they’ll get more use out of than a car.