Industry Sales Pace at 15 Million Annual Rate
A recent uptick in gas prices pushed consumers toward fuel-efficient vehicles rather than back to the sidelines, with the annual sales rate jumping to 15.1 million vehicles, according to Autodata.
A recent uptick in gas prices pushed consumers toward fuel-efficient vehicles rather than back to the sidelines, with the annual sales rate jumping to 15.1 million vehicles, according to Autodata.
New-vehicle sales this month have been strong month to date, with the selling rate outperforming January's, reported J.D. Power and Associates.
AutoNation Inc. reported that new-vehicle unit sales in December 2011 totaled 24,342 units, an increase of 11 percent year over year.
A new report by J.D Power and Associates and LMC Automotive revealed that November new-vehicle retail sales are projected to come in at a SAAR of 11.3 million units — the highest monthly selling rate in three and a half years.
After a strong 1.1 percent month-over-month gain in September, U.S. retail sales increased last month by 0.5 percent to $397.7 billion, the Commerce Department reported today.
Chrome Systems Inc., a subsidiary of DealerTrack Holdings Inc., announced the availability of its newly expanded Image Gallery solution, a library of vehicle photographs for enhancing vehicle descriptions and creating online presentations.
KPA, an Internet marketing provider, has acquired TK Carsites Inc., which offers marketing services to automotive retailers.
Citing recovering inventory levels and solid Labor Day Sales, J.D. Power and Associates expects September’s new-vehicle sales rate to outpace August.
CNW Research suggests that the industry might be on track to realize a 5 percent year-over-year increase in retail sales. Despite the increase, the market research firm believes retail sales will fall short of the 1 million-unit mark for the fourth straight month.
The March 11 earthquake in Japan continued to impact Japanese automakers, with Toyota and Honda reporting notable decreases in July sales. Detroit automakers fared better, with Chrysler experiencing its best July in four years.
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