“Cars sales should surge again in February, as the annual rate reaches closer to the record levels of 2005 and 2006. Nothing — not even higher gas prices — can block the relentless demand for new cars. That is, of course, if the economy cooperates, which it may not.
According to research firm Edmunds, car sales this month should be so good that they can be used to estimate total 2013 U.S. sales at 15.5 million. The technical name for the calculation is the Seasonally Adjusted Annual Rate (SAAR).
The firm released this comment when it announced its forecast:
If you enjoy the content at iBankCoin, please follow us on Twitter“Car sales are persevering despite economic factors on people’s minds like rising gas prices and the implementation of the payroll tax,” says Edmunds.com Senior Analyst Jessica Caldwell. “Pent-up demand and widespread access to credit are keeping up car sales momentum.” …”
