KBB Predicts Record Sales in April
After a disappointing March, new-vehicle sales should bounce back in April, KBB said yesterday. The firm predicts new-vehicle sales will rise 4% from a year ago to a record 1.51 million units.
IRVINE, Calif. — Kelley Blue Book said this week it expects new-vehicle sales to grow by 4% compared to the same-year period in 2015. The expected growth should deliver record new-vehicle sales of 1.51 million and a SAAR of 17.5 million.
Retail sales, the firm said, are expected to account for 80.3% of volume this month, down from 80.9% in April 2015.
“Following a disappointing March, we expect sales to get back on track in April with the SAAR in the mid-17 million range,” said Tim Fleming, analyst for Kelley Blue Book. “Increased fleet sales and rising incentive spending among automakers remain the factors to watch, but retail demand appears to be holding steady, signaling the industry’s strong run isn’t over quite yet.”
Compact SUVs/crossovers, mid-size cars, full-size trucks and mid-size SUVs / crossovers should also realize volume growth this month, according to KBB. Compact cars, however, are expected to be lone segment to show a decrease in volume compared to the same time last year.
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