A recent report by Kelley Blue Book\u00a0indicates that 2013 is looking good for car sales. Experts predict annual sales will increase nearly 6 percent to 15.3 million cars sold by the end of the year. This is slower than in the past few years, but the growth is still a good sign for the economy and for drivers looking to buy new or used cars.<\/p>\n
“Although the sales pace is expected to slow this year, automakers have demonstrated that they can generate solid profits with sales at current levels, which is a strong indication that they will remain disciplined by continuing to match production to meet demand,” said Alec Gutierrez, senior market analyst of automotive insights for KBB.\u00a0<\/p>\n
As demand for new cars increases, the used car market will likely see changes as well. When drivers buy new cars, they often trade in or sell their current models, which leads to an increase of inventory of previously owned vehicles. This makes it easier for used car shoppers to find the models they’re looking for at more affordable prices.<\/p>\n
During the recession, many people held onto their vehicles longer, which led to a diminished supply of used models. As a result, many 1- to 3-year-old cars cost as much, as sometimes more, than their brand new counterparts. Now that the economy is improving, the cost of used models is on a downward trend, giving drivers the chance to buy the car they want without going over budget.<\/p>\n