DETROIT (Reuters) - U.S. new-car sales could hit 14.5 million this year, an increase of 13 percent from 2011, as an improving economy makes consumers more confident about buying cars, industry consultants J.D. Power and LMC Automotive said today.
Previously, the consultants forecast annual sales of 14.3 million. In 2011, Americans bought 12.8 million cars and trucks.
Current forecasts by other analysts and automakers call for U.S. light vehicle sales of 13.85 million to 14.8 million units this year.
J.D. Power and LMC also predicted that light-vehicle sales in May would rise 21 percent to 1.38 million, when adjusted for more selling days this month than in May 2011.
That signals an annualized sales pace of 14.3 million for the month, just below the 14.4 million sales rate in the March and April.