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Projected auto sales indicate surging auto industry

Posted on Tuesday, May 6, 2014 at 11:34:57 AM

It appears that the warm weather has also brought along an increase in vehicle buyer activity, including a renewed focus on affordable auto financing. Projected sales figures for April represent positive gains for most of the industry, and that bodes well for future activity this summer.

According to Edmunds.com, more than 1.4 million new cars are projected to be sold in April, bringing the seasonally adjusted annual rate to 16.2 million. That would signal a 9.1 percent uptick in sales on a yearly basis.

"April's numbers suggest that car shoppers are still motivated to buy new cars, erasing any doubts raised by lackluster sales at the beginning of the year," said Edmunds.com senior analyst Jessica Caldwell. "The sales performance the last two months is more in line with what we projected for 2014, and there's every reason to believe that car shoppers will continue to keep this pace."

For example, Chrysler Group LLC reported very strong April sales totals, up 14 percent compared to the same time in 2013. Strong performers included the Jeep, Dodge, Ram Truck and FIAT brands. The largest sales gain belonged to Jeep, with a 52 percent rise resulting in the best April sales month ever.