Total sales are projected to reach nearly three million units, up 2.8% year-over-year, according to Cox Automotive.
Modest increase still less than normally seen during spring selling season.
NADA Market Beat report reveals double-digit spike in new light-duty sales in May.
Larger inventories and greater fleet sales boosted light-duty sales.
4% lower than year-over-year, finds Cox Automotive Market Insights.
Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
November’s SAAR of 14.1 million units rose 7.9% compared to November 2021 but was down 6.5% compared to October 2022.
LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
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