New-Vehicle Sales Up in March
Prices stay high, though, as makers focus on fleet sales.
Retail demand remains strong, due primarily to considerable pent-up demand, J.D. Power says.
IMAGE: Pexels/JESHOOTS.COM
New-vehicle sales had a robust month and quarter, according to estimates released by J.D. Power and LMC Automotive.
Combined retail and nonretail deliveries will total a projected 1.3 million units for the month, up 6.2% year-over-year, and 3.5 million for the quarter, up 7.3% year-over-year.
Year-over-year retail sales alone are forecasted to increase about 2% for the month to 1.1 million, and 2.9 million in the first quarter, up 0.2% year-over-year.
Consumers are set to spend almost $50 billion in March on new vehicles, up 5.5% from a year earlier, J.D. Power said.
“Retail demand for vehicles remains strong, due primarily to considerable pent-up demand,” said Thomas King, president of J.D. Power’s data and analytics division.
“The availability of new vehicles in inventory at retailers is improving, resulting in a softening of dealer margins and increased manufacturer incentive spending. But, overall, the industry remains supply constrained, and profitability is well above historical norms.”
The average new-vehicle transaction price is projected to hit a March record of $45,818, up 3.5% year-over-year.
High prices despite increased production remain due to carmakers’ focus on fleet sales, which are expected to increase 31% year-over-year, J.D. Power said.
Originally posted on Auto Dealer Today
More Showroom
Focus on Vehicle Cabins
The market for interior materials will grow in coming years as automakers look to meet consumer demand while staying competitive with changeups to sourcing and included features.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
European EV Market Hits Record
Seven out of the top 10 electric vehicles sold so far in 2026 in Europe are by European brands, and automakers are seeing the power train fill up their order books.
Read More →
Used EVs Outpace New
While North American electric-vehicle sales remain down year-over-year, May sales saw a 3% increase from April’s numbers as used EVs led the market.
Read More →
New Vehicles Down for Most Brands
Healthy May sales cut into inventory as automakers kept a tight reign on supply, though some brands ended the month with excess units on the ground.
Read More →
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 →
Mitsubishi Sets Growth Strategy, Structural Transformation
The Japanese automaker aims to 'strengthen products and technologies that embody its brand identity,' focus on its strongest markets and expand value-chain businesses 'that leverage its unique strengths.'
Read More →
Affordable, Safe Cars for Teen Drivers
Families looking to balance affordability and safety in vehicles for their teen drivers can look to the updated list of recommended vehicles by IIHS and Consumer Reports.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
Holman Opens Porsche Dealership in Miami
The North Miami store features the brand’s signature Destination Porsche design concept, combining contemporary architecture and technology to create what the auto group calls an ultra-luxury experience.
Read More →