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Tag Archives: Patrick Manzi NADA Chief Economist
US October Light Vehicle Sales Drop -23% YoY
Overall vehicle sales were, however, 5% higher than September with the 2 extra selling days in October. The annualized rate grew to 13.1 million units from 12.1 million in the previous month and back to the level registered in August. “However, OEMs sold just 39,000 vehicles per selling day, compared to 40,000 units last month, way down from a peak of 62,000 vehicles in March,” said LMC. Continue reading
NADA Economist Predicts 14.6 Million Light Vehicle Sales
“Looking ahead, we believe that vehicle production will show continued improvement in March. Wards Intelligence expects that 2023 Q1 North American light-vehicle production will grow by 7.3% compared with the first quarter of 2022. This should be good news for continued inventory growth throughout the year. We believe that with more inventory available, new light-vehicle sales will increase in 2023. Our full-year forecast is 14.6 million units,” said Manzi. Continue reading →