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SOURCE Great American Group
-Domestic auto market shifts into high gear in first half of 2014-
LOS ANGELES, Aug. 27, 2014 /PRNewswire/ -- Analysts with GA Advisory and Valuation Services LLC, a division of Great American Group, Inc. (OTCBB: GAMR), report that despite getting off to a slow start in 2014, the domestic automotive industry has proved to be a consistently strong sector of the U.S. economy, with sales continuing to rebound from recession-era lows.
As the first half of 2014 witnessed an increase in unit sales of approximately 4.5 percent over the same period in 2013, the auto industry continues to face high expectations from analysts. While industry experts originally anticipated sales to total 16 million vehicles by year-end, the industry has already surpassed this level and is projected to reach even higher totals.
The increasing sales bode well for other industry participants, particularly as manufacturers and distributors of original equipment manufacturer (OEM) parts continue to experience a rise in demand from major automobile manufacturers. Additionally, although new cars require less maintenance than older cars, increases in disposable income position manufacturers and distributors of aftermarket parts for growth as well.
"The automotive industry has experienced strong sales thus far in 2014," said Ken Bloore, Chief Operating Officer of GA's Advisory and Valuation Services division. "Several months of consistent sales increases indicate that the industry is performing well and Americans are willing to make discretionary purchases. Going forward, we will continue to monitor market conditions and their impact on our automotive sector appraisals."
In its latest Automotive Monitor, GA also notes that although automotive sales in July were not as robust as originally expected, summer incentives are projected to propel sales in the coming months. In July, sales increased 9 percent from the previous year, short of the 11 percent gain anticipated by many experts.
GA's newest Automotive Monitor about industry trends in OEM and aftermarket parts, accessories and tires is available on the company's website at http://www.greatamerican.com/static/pdf/industry-insights/Automotive/Automotive_Monitor_August_%202014.pdf.
For more information about asset disposition or advisory and valuation services available through Great American Group, visit www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group, which recently combined with B. Riley & Co. to create a diversified financial services firm, is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. B. Riley & Co. is a leading investment bank which provides a full array of corporate finance, research, and sales & trading to corporate, institutional and high net worth individuals. The corporate headquarters is located in Los Angeles with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco, London and Milan. For more information, call (818) 884-3737 or visit www.greatamerican.com.
Great American Group
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