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State of the U.S. Automotive Industry

One of our specialties at Tailored Label Products is industrial labels for the automotive industry. As a business that serves this industry, we’re happy to see that the current state of the automotive industry is quite healthy considering the economic downturn of recent years past. In fact, reports regarding the state of the industry have painted an optimistic future for automobiles well into the next two years.

The outlook for the automotive industry has remained positive since the start of the year. In January of 2013, sales numbers for 2012 indicated that automakers sold 13% more cars than in the previous year. That percentage translates to more than 14 million vehicles. Individual car makers such as GM and Ford were especially successful, reporting numbers up to 43% higher than 2011.

As 2013 draws to a close, it’s clear now that sales in the auto industry have maintained an upward trend.  According to a number of news outlets including the Wall Street Journal and Quartz, U.S. car sales are soaring.  In September, sales reached its best annualized rate in six years, at 16.1 million. Polk, an automotive information and marketing company, previously predicted that U.S. light vehicle registrations would not hit 16 million until 2015.

Experts attribute the renewed success of the auto industry to an improving economy and housing market, as well as increased construction. That success is expected to extend into the near future.

References:

http://qz.com/124641/one-chart-that-explains-why-the-us-auto-industry-is-booming/

http://www.upi.com/Business_News/2013/01/06/Auto-Outlook-Auto-industry-still-powering-US-economy/UPI-85771357468200/

http://online.wsj.com/article/SB10001424127887324123004579054710542279716.html#articleTabs%3Dinteractive

http://www.reuters.com/article/2013/08/26/fitch-us-auto-abs-losses-rise-as-softer-idUSFit66795020130826