New-vehicle retail sales in March are showing signs of improvement following slower-than-expected sales in the first two months of 2014, J.D. Power and LMC Automotive report.
The J.D. Power 2014 U.S. Vehicle Dependability Study found a 6% increase in vehicle problems from last year. It was the first time since 1998 that the average number of problems has increased.
U.S. consumers are expected to spend more than $34 billion on new vehicles in December, a historic high for the month, reports J.D. Power and LMC Automotive.
Advertising experts at this week's J.D. Power Western Automotive Conference discussed how dealers and automotive marketers can increase sales through multicultural marketing and media.
New-vehicle retail sales in August are projected to come in at 1.27 million units, a 12 percent increase from August 2012 and the highest monthly sales volume since 2006.
The automotive retail market is expected to close out the first half on a positive note, and the two market research firms believe the momentum should carry through the summer.
J.D. Power and LMC Automotive expect May retail sales to exceed 1 million units for the third consecutive month.
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.
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.
During J.D. Power and Associates’ International Automotive Roundtable last week, hints were dropped at what the manufacturer-to-dealer relationship could look like this year.
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