Carmakers finish strong in 2014; are even better days ahead?, from West Hawaii Today.
Confident in the economy and cheered by cheap gas, Americans are likely to push new car sales to their highest level in a decade this year.
Analysts expect sales to reach 17 million for the first time since 2005. That’s close to the record of 17.3 million set in 2000.
Low gas prices are giving buyers more confidence, whether they’re buying their first subcompact or upgrading to a larger SUV. Gas prices started this year at an average of $2.23 per gallon, down 33 percent from the beginning of 2014, according to AAA. The Energy Department estimates that lower gasoline prices will save U.S. households $550 this year — about four months of lease payments on a 2014 Honda Civic.
Popular new vehicles, like the Jeep Cherokee and Subaru Outback, are also drawing buyers.
Photo Credit: AP Photo/John Bazemore