Auto Industry Expects Sales Boost in 2010

02/18/2010

A growing number of Americans are likely to find themselves shopping for auto insurance in the coming months, judging from recent projections showing a rebound in vehicle sales for 2010.

In a recent announcement, Paul Taylor, chief economist of the National Automobile Dealers Association, predicted that about 11.9 million light vehicles would be sold in 2010.

This prediction is based on the expectation that consumers will have an easier time securing auto loans in the coming months, in part because of improving unemployment figures. Taylor also noted that used car prices may remain relatively high given the low sales figures recorded for the past two vehicle model years.

Sales of crossover utility vehicles were said to be seeing improvement in recent months, while small and midsize cars were also seeing improvement. Another fairly strong segment of the auto industry was hybrid vehicles.

Even with sales projected to increase, the recession has produced lasting lessons about saving money and managing personal finances. With that in mind, consumers are likely to take as much time as ever to shop around for the most affordable auto insurance policies.

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