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Last wave of auto purchases to close in on record [Video]

Posted on Monday, August 10, 2015 at 6:12:50 PM

Some experts believe that this year could be the best for auto sales since 2000, when purchases of cars and light trucks reached an all-time high. 

In July, consumers came out in droves to look for auto financing and new vehicles. In fact, vehicle sales that month came in way above expectations. Demand for Chrysler Jeeps, as well as Ford's Explorer and F-150 models, were behind the surge in auto sales, according to Forbes. And the auto industry's hot streak is set to continue due to a number of forthcoming releases. 

"We're pretty much on track for the second best year in history," Jessica Caldwell, a senior analyst at Edmunds.com, told Automotive News.

Following news of strong sales in July, Caldwell revised her 2015 projections to 17.2 million vehicles from 16.8 million. The record for car and light truck sales, set in 2000, was 17.4 million sales. 

Demand through the rest of the year may remain strong due to upcoming releases such as a redesigned Honda Civic, Toyota's renewed Tacoma pickup and a renovated Nissan Altima.