With less than a week left in April, the new-vehicle SAAR remains above 15 million units. If the pace holds, April would mark the sixth consecutive month that the SAAR stays above 15 million units.
J.D. Power and Associates’ recent study shows that car owners cite technologies that drive fuel economy and smartphone connectivity as features they want in their next vehicle.
Experian Automotive found that buyers of hybrid vehicles, which make up slightly more than 1 percent of total vehicles in operation, aren't just environmentally conscience, they are 'economically minded" as well.
The majority of manufacturers reported an increase in sales over last March, with the exception of Mazda and Hyundai. March’s SAAR stood at 15.27 million units, up from 14.14 million units one year ago.
March’s retail SAAR should match February’s 12.1 million-unit reading, J.D. Power and LMC Automotive reported this week. The two firms also spot a stretching of loan terms, with 72-month or longer loans now at record levels.
Now that the big annual convention has passed, it’s time to assess what was learned and how we can put it to work immediately. The magazine’s resident sales strategist weighs in.
Just barely the majority of manufacturers saw an increase in sales in February over last year, with Mercedes-Benz and Hyundai breaking sales records for the month. Sales paced at a seasonally adjusted annual rate of 15.38 million units, according to Autodata Corp.
According to TrueCar, February’s SAAR sits at 15.7 million units, the highest SAAR since 2007. Estimated incentive spending is at nearly $2,400 for the month.
J.D. Power and LMC Automotive expect new-vehicle sales to reach 931,100 units in February, which would put the SAAR at 12.1 million units.
Nearly 60 percent of attendees at the industry's annual get-together expect their sales to grow by more than 10 percent this year, and more than 54 percent expect consumer confidence to be the key factor in sustaining auto sales momentum.
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