“We’re expecting auto sales to increase as the inventory available to sell increases,” said Taylor, in an interview on “AutoFocus with David Hyatt,” a public affairs television program recorded in Studio One at NADA’s headquarters in McLean, Va. “Auto sales improved in October, but will be even better in November.”
With the average age of cars and trucks nearing 11 years old, Taylor says consumers are becoming more concerned about major breakdowns and need to replace their older vehicles. Another factor that will result in improved new vehicle sales is higher prices on used cars, he added.
“Trade-ins are worth more and that attracts consumers to the new car market as well,” he said.
Click here to view the Taylor interview on “AutoFocus.”
The NADA Story
The NADA story began in 1917 when 30 auto dealers traveled to the nation’s capital to convince Congress not to impose a luxury tax on the automobile. They successfully argued that the automobile is a necessity of American life, not a luxury. From that experience was born the National Automobile Dealers Association. Today, NADA represents nearly 16,000 new-car and -truck dealerships with 32,500 franchises, both domestic and international.