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Why 2013 Sales May Lag (1/3/13)

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  1. Social Security3:32
  2. economic growth3:43
  3. new car3:40
  4. White House0:43
  5. BMW2:27
  6. GM's1:42
  7. Mercedes-Benz2:28
  8. kill children1:03
  9. auto sales1:51, 2:42
  10. December volume2:08

Thu, 3 Jan 2013|

What could slow sales momentum this year; Honda Civic's 'refreshing' ad; rear-view rule delay; non-car owners' clout.

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Automatically Generated Transcript (may not be 100% accurate)

Welcome it's great birthday edition -- -- and Jennifer bond. Autos sales results are out today -- Saturn joins us the -- paid by the numbers report later on now your top news stories. Will star in Washington DC. Where they ruled that can lead to the installation. Of rearview cameras in more vehicles has again been delayed. The National Highway Traffic Safety Administration. Missed its December 31 deadline to issue a final rule requiring improved at where visibility in cars. It says the White House is reviewing the rule. Which is expected to -- at carmakers to install rear mounted video camera and in vehicle displays. Congress first ordered a rear visibility standard in 2012. And to prevent accidents in which drivers that go over in injure or kill children. And it's another sign of clout for drivers who don't want to own cars. On Wednesday a rental giant Avis Budget once skeptical about car sharing services. Agreed to by zip car for 491. Million dollars. As Bloomberg reports rivals enterprise holdings and Hertz have similar offerings. And even auto makers have embraced a car sharing. In 2011 Ford began an alliance with that car to safely to a focus is and it paid some college campus it. And GM's OnStar unit that works with a really rides which a lot of people -- went out there private cars. It's US auto sales recording day for a December. Our -- Snyder takes a look at the year just past and ahead 2013. To go to. -- today we closed the books on 2012. Glamorous but a very solid year of growth. Forecasters expect December volume to be almost as high as November's. The Reuters consensus of analysts is for a selling rate of fifteen point two million. 9% higher than a year ago. With only December to -- and there's not much mystery to 2012. And by this afternoon we'll know the few remaining details. Did BMW outsell Mercedes-Benz. Did the Ford Mustang topped the -- -- Camaro. Will industry sales round down to fourteen point four or up to fourteen point five million units. Here's what we already know about 2012 auto sales one it's the third straight year of double digit growth industry up about 14%. Two that's the highest percentage gain so far this recovery. Ahead of 201011%. And when he -- 10%. Three the annual selling rate rose as we went along eventually topping fifteen million. That's a lot of -- But it doesn't carry over. The average 2013 forecast of eight analysts polled by automotive nose is fifteen point one million. So after those three years of double digit growth up only 3%. Why -- lower expectations. Three reasons stand out. One higher taxes now not the higher tax rates on the rich the end of the 2% tax holiday on Social Security. This year anyone earning 60000 dollars as a hundred dollars a month less take home to put toward new car. To. -- job and economic growth. And a big -- more political uncertainty. Now congress didn't throw us off the fiscal cliff. But it created two new cliff hangers. In February and cutting federal spending and in March on raising the debt limit. Bottom line 2013 looks like another good sales a year. But the growth rate seems destined to -- Jennifer. Thank you -- Finally. Things can always be better. That's the title of Honda's new -- for that when he thirteenth that it. An innocent people don't have. As a -- carmaker rolling out this TV spots for the redesign sending me this after -- responded to critics. With significant update to the small car just nineteen months into its product cycles. Introducing the best round since. -- airing the ad during the Rose Bowl. And thank you for joining us this morning because how are back this afternoon I'm uttered these now take care.

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