Dealers confident about 2013 auto sales, Ally Financial survey shows
DETROIT, Feb. 11, 2013 /PRNewswire/ -- Auto dealers remain optimistic about a continued increase in auto sales in 2013, with nearly 60 percent surveyed expecting their sales to grow by more than 10 percent this year, according to a survey by Ally Financial at the National Automobile Dealers Association (NADA) Convention.
More than 54 percent of dealers surveyed expect consumer confidence to be the key factor in sustaining auto sales momentum in 2013. The age of vehicles on the road, incentives and the availability of new vehicle inventory will also support sales growth, dealers said. About half of dealers surveyed indicate that customer credit profiles are improving.
"We expect 2013 to be a strong year for the auto industry as the economy and consumer credit profiles steadily improve and as new models attract customers to showrooms," said Tim Russi, president of Auto Finance for Ally Financial. "We met with many dealers at NADA who reinforced our position and share our optimism and passion to make it happen."
The used vehicle department will be the most profitable within the dealership this year, according to 47 percent of dealers surveyed. Further, more than 70 percent of dealers expect sales of F&I products, such as vehicle service contracts, to increase this year.
Ally Financial surveyed more than 100 dealers that attended the 2013 NADA convention and expo in Orlando, Fla. on Feb. 9 and 10, 2013.
About Ally Financial
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $182.4 billion in assets as of Dec. 31, 2012, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.
SOURCE Ally Financial