Edmunds: New-Vehicle Sales to Fall in January
The vehicle information site expects new-vehicle sales to total 1.15 million units in January, a 31.5% decrease from December and a 0.7% decrease from January 2016.
SANTA MONICA, Calif. — The industry will sell 1,153,459 new cars and trucks in January for an estimated seasonally adjusted annual rate (SAAR) of 17.7 million, Edmunds predicted this week.
If realized, the prediction reflects a 31.5% decrease in sales from December 2016 and a 0.7% decrease from January 2016.
"January had the potential of being a very slow month at dealerships, given the fact that auto sales shattered records in December," said Jessica Caldwell, Edmunds executive director of industry analysis. "But January is shaping up to be a surprisingly healthy month. The economy continues to show signs of strength and consumers are feeling confident, boosting auto sales above initial expectations."
Edmunds estimates that the retail SAAR will come in at 14.6 million units this month, with fleet transactions accounting for 17.3% of total sales. An estimated 3.1 million used vehicles will be sold in January 2017 for a SAAR of 38.4 million, up from 2.6 million units, or a SAAR of 38.2 million, in December.
More Auto Finance
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →