February New-Vehicle Sales Forecast Sunny
Early figures put volume up 1.4%, SAAR also up on higher inventory, incentives.
Retail sales alone are also forecast to increase this month to more than 981,000 units, up about 4%.
IMAGE: Pexels/Torsten Dettlaff
February new-vehicle sales are expected to rise over year-earlier numbers, according to a J.D. Power/GlobalData forecast.
It said combined retail and nonretail sales should be up 1.4% year-over-year to 1.2 million units.
This February has one more selling day than last February due to this year being a leap year.
The report put the seasonally adjusted annual rate, or SAAR, at 15.4 million units, up 0.4 million year-over-year.
Retail sales alone are also forecast to increase this month to more than 981,000 units, up about 4%.
J.D. Power said the sales surge is happening due to revived inventory and manufacturer incentives and lowered retailer profit margin. But even with those shifts, “retail customers will still spend more on new vehicles this month than in any other February on record,” said its data and analytics division president, Thomas King.
Retailer profit per unit, is forecast to fall 31% year-over-year to $2,574, according to the forecast.
Originally posted on Auto Dealer Today
More Industry
Auto Prices Ride May Moderation
Flat ATPs and asking prices clocked in below long-term averages for the month, though some segments saw significant price gains, reported Cox Automotive.
Read More →
Auto Retail Families Get Out While the Getting’s Good
Kerrigan Advisors’ first-quarter Blue Sky Report shows a sharp uptick in buy-sell deals as more retailers take advantage of handsome values while seeking to escape market risk.
Read More →
Holman Opens New Lexus Dealership
Located in the heart of Clark County, Lexus of Vancouver features a multi-level showroom, more than 30 service bays, an indoor drive for drop-off and pick-up and a fleet of courtesy vehicles.
Read More →
Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →