NEW YORK (12/30/14)--Consumer automobile website Cars.com estimates that light- and new-vehicle sales will surge to their highest levels in eight years this December.
Driven by sagging fuel costs, Cars.com forecast Monday that sales will hit 1.51 million units sold by the end of December, an 11.3% increase annually (MarketWatch Dec. 29).
The research site also expects to see a seasonally adjusted annual rate of 16.86 million units for the month.
"New-car sales are finishing the year on a high note, with total industry sales expected to exceed 16.5 million units in 2014," said Jesse Toprak, Cars.com chief analyst (Investors.com Dec. 29). "Bolstered by low gas prices, SUV and full-size truck sales have been particularly strong this month, even beyond seasonality."
Toprak added that sales will continue to make gains through 2015 as well, with an estimated 17.1 million units sold during the year.