Could 2014 be a red-letter year for American-manufactured cars?
As American automakers offer "their best cars in a generation" combined with lower prices, some analysts believe United States auto sales could be the highest since 2006, Bloomberg Businessweek reported.
"We are expecting pricing to kind of melt to achieve 16.5 million" auto sales in 2014, rising from 15.6 million last year, Adam Jonas, an auto analyst with Morgan Stanley, told Businessweek. "We think we're peaking. It should be a banner year."
2013 was the fourth year in a row for rising American car sales. For owner Gordon Stewart, who has four Chevrolet stores, auto sales jumped around 25 percent.
The best car market will be when consumers become more willing to shell out money for such models as the Chevy Impala, Stewart told Businessweek.
"That new Impala has got to be the nicest car on the market, but the customers haven't adjusted to the pricing," said Stewart.
He said that a fully loaded Impala, a model that used to sell for under $25,00, is now priced at $40,000. "If that car were $30,000, it would be selling like popcorn," he told Businessweek.
If the Detroit Three compromise with retailers, U.S. car sales could be the highest in years. According to Jonas, carmakers should offer discounts to boost sales even with so many new models being offered this year.
"It's a hugely competitive market," Stephanie Brinley, an analyst with IHS Automotive, told Businessweek. "We've got 37 new products coming this year, up from 16 last year."
Fresh, well-built models are slowly erasing American carmakers' reputations for poor-quality vehicles, but it will take time to persuade consumers to shell out $40,000 for an Impala.
"If I was a dealer, I'd rather have the problem where people get in the car and see the quality and design has improved, as opposed to selling $25,000 Impalas at no margin," said Kevin Tynan, Bloomberg Industries auto analyst.
Improving the way people see American cars "certainly is not going to happen in a model year. It might take a generation," Tynan said.
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