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.
Total new-vehicle sales in April increased 0.6% compared with a year ago to 1.45 million units sold, according to Autodata Corp. April’s SAAR was 16.5 million units.
The lease approval rate jumped 31% from March to April, the highest since November 2014, Swapalease.com reports.
The weather cleared in time to drive up April sales by 4.1% from a year ago. April’s SAAR was 16.04 million, up from March’s SAAR but down from a year ago.
Compared to March, April’s subprime loan approval rates fell by nearly 4 percent, according to CNW Research. The firm’s monthly automotive retail summary, however, shows a year-over-year increase in subprime approvals.
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.
Edmunds.com expects the industry to finish out April with a 15.2 million SAAR, marking the best April sales month since 2007.
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