January US Vehicle Sales Up as Transaction Prices Hit Record

US January 2023 Sales Forecast – courtesy of and copyright J.D. Power and LMC Automotive

Ken Zino of AutoInformed.com on January US Vehicle Sales Up as Transaction Prices Hit Record

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Total new-vehicle sales for January 2023, including retail and non-retail transactions, are projected to reach 1,043,100 units, a 5.4% increase from January 2022, according to a joint forecast from J.D. Power and LMC Automotive* released today. New-vehicle transaction prices continue to rise; however the rate of growth continues to relax. The average price will set a January record of $46,437, an increase of 4.2% from a year ago. The record transaction prices means that buyers are on track to spend nearly $39.9 billion on new vehicles this month, the highest level ever for the month of January, an increase of 2.4% from January 2022 despite the Federal Reserve’s efforts to send the US into a recession. The looming Republican creation of a depression over the deficit, aka contract hit on America II, remains ominous.

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