Experts Predict Auto Industry Growth Will Continue in 2013

As 2103 gets underway, the sales numbers for December are beginning to trickle in, and the auto industry's success in the past year is growing more apparent. The Washington Post reports that preliminary estimates show roughly 14.5 million new vehicles were sold in 2012, which is 13 percent higher than in 2011.

It doesn't look like the trend shows any signs of slowing either, as experts from market research firm Polk as well as those at Edmunds.com are predicting that 2013 will see sales top 15 million. This is only a 6.6 percent increase according to Fox Business, but it looks as though 2013 will be a year of innovation and competition between brands.

"What's especially encouraging is the current competitive strength among the automakers," said Dr. Lacey Plache, Edmunds.com's chief economist. "Consumers will continue to benefit from exciting new models and technologies – and potentially lower prices – as automakers continue to battle for market share."

As more drivers purchase new models, the pool of available used models will grow as well. This is largely due to the fact that Edmunds expects there will be 500,000 more leases that end in 2013 than there were in 2012. The result could be an average price drop of $200 to $300 per used model this year, making it a good time for car shoppers to begin looking.

Drivers in the New York/New Jersey area who are in the market for used cars may be able to find the ride they want at NJ State Auto Auction. The dealer carries a wide selection of makes and models with a constantly changing inventory, and every vehicle on the lot is CARFAX Certified. This allows drivers to buy with confidence, as they will know that they're getting behind the wheel of a reliable ride.