Dive Summary:

• The ailing US economy is said to have been saved by  increasing sales in the auto industry with auto makers and dealerships surpassing 2012 projections.
• The surge in auto sales and projections forecasted for 2013 and 2014 is likely due to the average owned American car being 11.1 years old.
• While the predicted $15 million in sales is still below the mark compared to the 2005 peak for auto sales, it is estimated to continue growing through 2014.

From the article:

"...What explains the steady rise in car sales? The answer probably has less to do with new cars drivers are being tempted to buy than it does with the older cars consumers still have parked in their driveways.

Without a doubt, there are plenty of exciting new models that have just hit the marketplace or will do so soon. As many as 40 vehicles will be freshly introduced (as redesigns or totally new cars) this year, according to the Wall Street Journal, which is more than twice the number of new cars rolled out in 2012..."

Read more: http://business.time.com/2013/01/03/why-2013-will-be-another-huge-year-for-car-sales/#ixzz2Gv8b2ERt