According to John Murphy of Bank of America Merrill Lynch, author of the widely followed annual "Car Wars" study, the industry replaced 16% of its fleets annually between 1991-2011. But the replacement rate jumps to 23% for the 2012 model year, which began Oct. 1, and then surges to an extraordinary 32% for the following year.
While customers got to choose among an average of 38 new models every year for the past two decades, they will see some 46 new offerings coming their way every year for the next four.
All new models aren't created equal, of course, and some automakers are moving faster than others. Herewith, an analysis of the activity by each automaker with a guide to its hottest models.
The competition was fierce in the race to be last. Surprise - the car at the bottom of the heap wasn't from Detroit.
|Two hours and 1,600 fake credit cards later: $13 million is gone|
|'Beauty and the Beast' trailer teases Emma Watson as Disney's Belle|
|Meet the 12-year-old accepted to two colleges May 23|
|Premarkets: 4 things to know before the open|
|Millionaires chalk success up to hard work and family values|