Why is that? One theory is that consumers simply arent troubled by manufacturing recalls, especially if theyre from a company like Toyota that has a reputation for reliability. A fascinating study this year from North Carolina State University found that Toyotas infamous 2009 safety recalls a result of concerns over sudden unintended acceleration made virtually no dent in how people perceived the brand.
Another possibility is that consumers cant really afford not to buy cars at this point. Back in January, the typical car on the road was a record 10.8 years old. Most people had put off replacing their vehicles during the downturn, and their cars and trucks were becoming ancient. Auto analysts referred to this as pent-up demand, and 2012 was the year the dam finally burst. Americans were bound to start buying cars en masse sooner or later, and a wave of recalls wasnt going to stop them.
If so, thats relatively good news for 2013. Despite all the strong sales, the average age of cars on the road has now risen even higher, to just over 11 years old. Thats one reason why many analysts predict the auto industry will keep growing next year and keep bolstering the U.S. economy. And at this point, it seems like very little not the fiscal cliff, not a spate of recalls can slow things down.
