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March Global Light-Vehicle Sales Unchanged for Fifth Straight Month

by Staff
April 10, 2002
3 min to read


Continued strong light-vehicle sales in the

United States and the United Kingdom helped keep the global sales rate in March virtually unchanged for the fifth consecutive month, according to an automotive analysis by J.D. Power-LMC Automotive Services.

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The seasonally adjusted annualized rate (SAAR) of global light-vehicle sales during March is estimated to have been 55.8 million units -- the same as in February and up only slightly from January's selling rate of 55.7 million units. Light-vehicle sales in the United States rose from February's 16.6 million-unit selling rate to a 16.9 million-unit rate in March, according to J.D. Power and Associates.


"The U.S. auto market exceeded expectations in March as it has for each month of the first quarter," said Dr. Robert Schnorbus, chief economist

for J.D. Power-LMC in Troy, Mich. "Automakers continue their strong use of

incentives, and that, coupled with a strengthening economy, is what is

keeping sales so strong. We still anticipate sales in the U.S. to drop in

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the second quarter before resuming an upward path during the rest of the

year. In the long run, we expect annual sales to remain very strong."


Growth in light-vehicle sales continued in the United Kingdom,

accounting for nearly 19 percent of March light vehicle sales in Western

Europe. The Italian and Spanish markets struggled last month.

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"Western Europe has become even more reliant on the phenomenal sales

boom that is in progress in the U.K.," said Charles Young, director of

research for J.D. Power-LMC in Oxford, England. "The U.K. portion of sales

in Western Europe was much higher in March than we've seen in the past or

are likely to see in the future."

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According to the analysis, Canada's sales, like U.S. sales, are getting a boost from a

recovering economy and continued use of incentives. Canadian sales were down

from unsustainable levels in January and February, but March's sales were

still relatively robust, according to Schnorbus.


Japanese demand saw another sharp dip in March. Earlier in the year,

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weak Japanese demand was being offset by booming Korean sales. The strong

Korean market-up 17.2 percent compared with a year ago-was no longer able to

offset the increased weakness in the Japanese market. Japanese sales in

March were down 7.4 percent compared with last year.


In South America, the economic crisis in Argentina continued to

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plague the Mercosur market. Mercosur sales in March were down 20.4 percent

compared with a year ago.


J.D. Power-LMC, a global alliance between J.D. Power and Associates

and LMC Automotive Services in Oxford, England, provides

vehicle forecasts and competitive assessments on a worldwide basis.

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Headquartered in Agoura Hills, Calif., J.D. Power and Associates is

a global marketing information services firm operating in business

sectors including market research, forecasting, consulting, training and

customer satisfaction. J.D. Power and Associates can be accessed through the

Internet at www.jdpa.com. LMC Automotive Services is an economic research

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and forecasting firm headquartered in Oxford, England. It can be accessed

through the Internet at www.lmc.co.uk.



Topics:F&I

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