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Tag Archives: J.D. Power and LMC Automotive
March US Auto Sales Forecast Up. Q1 to Set Spending Record
“March is shaping up to be yet another positive month for the industry. With retail sales forecasted to be up nearly 2%, along with average transaction prices tracking up 3.5%, consumers are on pace to spend nearly $50 billion this month, an increase of 5.5% from what they spent on new vehicles a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading
January US Vehicle Sales Up as Transaction Prices Hit Record
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 Congressional contract hit on America II, remains ominous. Continue reading
December US Sales Up. Transaction Prices at Record Highs
Total new-vehicle sales for December 2022, including retail and non-retail transactions, are forecast to reach 1,254,700 units, a 5.3% increase from December 2021, according to a joint forecast from J.D. Power and LMC Automotive.* December 2022 has the same number of selling days as December 2021. The record transaction prices means that buyers are on track to spend nearly $48.2 billion on new vehicles this month, a slight -0.3% decrease from December 2021. Continue reading
US July Sales Forecast Down. Prices, Profits Still Records
Total new-vehicle sales for July 2022, including retail and non-retail transactions, are projected to reach 1,159,700 units, a 5.7% decrease from July 2021. Comparing the sales volume without adjusting for the number of selling days translates to a decrease of 9.2% from 2021. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.7 million units, down 0.9 million units from 2021. Continue reading
US June Vehicle Sales Forecast is Down on Record Prices
New-vehicle retail sales in Q2 2022 are projected to reach 2,977,300 units, a 23.3% decrease from Q2 2021 when adjusted for selling days. New-vehicle retail sales for the first six months 2022 are projected to reach 5,827,300 units, a 19.1% decrease from the first six months of 2021 when adjusted for selling days. The first half of 2021 was an all-time record for retail sales. Power/LMC make no note of the Federal Reserve Board, which appears to be dedicated to sending and keeping the economy in a recession. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, J.D. Power and LMC Automotive, Ken Zino, Thomas King
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January US New Vehicle Sales to Decline. Profits, Prices Up
The automotive economy is continuing to grow stronger under the Biden Administration recovery. Consumers will spend ~$37.2 billion on new vehicles this month, the highest on record for the month of January and 10% above January 2020. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, J.D. Power and LMC Automotive, Ken Zino
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US November Light Vehicle Sales Forecast Down Again
“Retail inventory on dealer lots is expected to end below one million vehicles for a fourth consecutive month, with sales in each month being dictated by the number of vehicles delivered to dealerships rather than reflecting actual demand,” said Thomas King, president of the data and analytics division at J.D. Power Continue reading
Posted in economy, news analysis, prices, sales
Tagged auto industry commentary, autoinformed.com, J.D. Power and LMC Automotive, Ken Zino
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US Auto Sales Forecast Down Again in August
Overall new-vehicle sales for August 2021, including retail and non-retail transactions, are projected to reach 1,094,500 units, a 13.7% decrease from August 2020 and a 25.3% decrease from August 2019. Comparing the same sales volume without adjusting for the number of selling days translates to a decrease of 17.0% from 2020 and a decrease of 33.3% from 2019. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.1 million units, down 2.1 million units from 2020 and down 4.0 million units from 2019. Continue reading
US Vehicle Sales to Rise in October?
However, complete U.S. new-vehicle sales including all transactions for October are projected to reach 1,321,400 units, a -4.5% decrease from October 2019 when adjusted for selling days. The seasonally adjusted annualized rate, aka SAAR, for total new vehicle sales is expected to be 15.9 million units, down 0.8 million units from 2019, the least year-over-year decline since the pandemic began. This is the annual output of two to four final assembly plants, without considering the component parts plants from internal or external sources. Continue reading
New Vehicle Sales to Slip in July?
“More notable is that incentive spending is on pace to post year-over-year declines for the first time in 54 months.” Continue reading
US New Vehicle Sales Soar in April 2023 at 1.3 Million
“The industry is poised for another favorable month in April, with projected retail sales expected to increase 5.9%, accompanied by a 2% increase in average transaction prices. Consequently, it’s expected that consumers will spend ~$47.5 billion on new vehicles this month, reflecting 2.9% growth compared with the same month a year ago,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading →