By Nick Bunkley, Crain News Service
DETROIT (Dec, 17, 2015) — U.S. auto sales are on pace to break the industry's single-year record by more than 100,000 units, with December sales volume expected to be higher than any month in the past decade, according to a forecast issued today jointly by J.D. Power and LMC Automotive.
LMC projects December sales of 1.71 million units, 14 percent more than a year ago. That would bring the total for 2015 to slightly more than 17.5 million units, a 6.1-percent increase from 2014.
The existing record is 17.4 million, set in 2000.
LMC said 2016 will bring a second consecutive record year for the industry but growth will slow considerably.
“We now have greater confidence that record sales in 2015 will lead to yet another volume record in 2016,” Jeff Schuster, LMC's senior vice president of forecasting, said in a statement.
“The year-over-year growth rate is projected to be one-third of the growth experienced in 2015, but total and retail light-vehicle sales are at a 2-percent increase in 2016, keeping the expansion going.”