Posted by: youngragingbull | April 2, 2013

Edmunds.com raises 2013 auto sales forecast

Edmunds.com raised its 2013 forecast for light vehicle sales in the U.S. to 15.5 million on Tuesday, saying that consumers feel wealthier due to rising home prices and stock market gains.

“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,” said Edmunds.com Chief Economist Lacey Plache.

The projection for light vehicle sales hasn’t been seen since 2007.

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