The National Automobile Dealers Association (NADA) sees U.S. sales of cars and pickups rising to 11.9 million vehicles this year, according to Automotive News. That's up 14 percent from last year's 10.4 million.

Paul Taylor, chief economist with NADA, said his forecast exceeded the other estimates of 11.5 million vehicles because the supply of used cars is dropping, thus raising prices, thus making new cars more attractive.

"We believe in this economy, and we believe higher mileage in a lot of cars will motivate sales as well," he added in a speech at NADA's annual convention in Orlando earlier this month.