Hedges & Company, a digital marketing firm serving the automotive aftermarket, has reported on the top auto industry trends driving new vehicle sales, based on registration data for the first half of 2013 compared to the same period in 2012.
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New car registrations are up 5% over 2012, but light trucks are helping fuel this year's new vehicle growth with an 11% increase. There have been 3,685,254 new light truck registrations through June 2013. Sport Utility Vehicles (SUVs) are seeing similar growth. Also up from last year, thanks in part to the increase in light trucks and SUVs, are vehicles with bigger engines with a displacement of 5.7 liters or more. Registrations for vehicles with these larger engines are up 19% from a year ago.
Another trend is vehicle leasing, which is up 27% over last year. Nearly one out of every five new vehicles in 2013 is leased. Hedges & Company advises aftermarket companies to look at any opportunities to sell accessories that can be removed from a vehicle without damage at the end of the lease term.
Economy vehicles with a Manufacturer’s Suggested Retail Price (MSRP) under $20,000 are also helping drive 2013 sales. These vehicles are up 38% from 2012, in contrast to vehicles with an MSRP of $20,000 or more, which are only up 2%. Farther up the scale, vehicles with an MSRP greater than $60,000 are down 6% from last year.
Also down in 2013: registrations of new Mustangs are down 11% and Camaros are down 15%.
To learn more about the trends driving new vehicle registrations visit the Hedges & Company blog at http://hedgescompany.com/blog/2013/08/top-6-auto-industry-trends-mid-2013.
Hedges & Company specializes in Internet marketing, paid search services, market research, mailing lists and vehicle registration data. For more information visit http://HedgesCompany.com.
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