Current Weather
The Spy FM

Production Of New Vehicles Predicted To Hit 2002 Levels

Filed by KOSU News in US News.
May 23, 2013

Strong new-vehicle sales figures are causing industry analysts to revise their forecasts for North American production levels in 2013, with J.D. Power & Associates and LMC Automotive predicting 16 million units will be produced — a mark not hit since 2002.

More than 1,157,000 new vehicles are projected to be sold in May, the third month in a row to top the 1 million level. The growth is being helped by strong demand for full-sized pickups, which represent more than 11 percent of retail sales, according to a news release from J.D. Power.

The strong sales figures are coming at a time when the average transaction price for new vehicles set a record high in May, at $28,921, the auto industry analysts said. The higher prices are being supported by low interest rates, strong trade-in values and other factors that help keep cut monthly payments.

J.D. Power’s John Humphrey, senior vice president of the global automotive practice, says that “while industry new-vehicle transaction prices have risen by 19 percent during the past six years ($28,921 in May 2013 from $24,404 in May 2008), the average monthly payment for new-car buyers and lessees has increased only 3 percent ($455 in May 2013 vs. $443 in May 2008).”

Yesterday, Detroit automakers said they would be reducing “the traditional two-week summer break at their factories and speeding up production to meet buyers’ growing demand for new cars and trucks,” as the AP reported. [Copyright 2013 NPR]

Leave a Reply

12PM to 1PM Fresh Air

Fresh Air

This one-hour program features Terry Gross' in-depth interviews with prominent cultural and entertainment figures, as well as distinguished experts on current affairs and news.

Listen Live Now!

1PM to 2PM Talk of the Nation

Talk of the Nation

Journalist Neal Conan leads a productive exchange of ideas and opinions on the issues that dominate the news landscape.

View the program guide!

2PM to 3PM PRI's The World

PRI's The World

Get a fresh perspective of people, events and trends that shape our world. Host Lisa Mullins covers a wide range of topics, including science, business, technology, sports, art and music.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center