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.
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.
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.
The two firms reported this week that January sales are off to their strongest start in five years, and could total 812,600 units by month end. Including fleet sales, total sales could reach 1.028 million units.
In their monthly sales forecast, J.D. Power and Associates and LMC Automotive predict that December will record a SAAR of 12.2 million units. The two firms also expect luxury share to reach its highest level since 2009.
If October maintains its current sales pace, the industry will have achieved something it hasn't done since 2008, J.D. Power and LMC Automotive report.
September sales could outpace a year ago by a million units, with most major vehicle segments expected to show year-over-year sales gains.
J.D. Power and LMC Automotive expect the industry to realize its highest monthly, new-vehicle selling rate in four and half years, with the industry expected to sell more than 1.066 million units this month.
Stretching loan terms and improved credit availability are keeping sales motoring along despite recent slowdown.
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