Tag Archives: US light vehicle sales forecast January 2024

“After December 2023 reached the strongest sales pace in several years, January’s pace has slowed to 15.2 million units. December’s SAAR of 16.2 million was inflated by elevated discounts from manufacturers, particularly as they aimed to clear out remaining inventory of 2023 model-year vehicles. In addition, changes in the eligibility of many electric vehicles to qualify for government rebates, which took effect Jan. 1, meant many EV purchases that would have occurred in January were made in December. Since January is the month of the year when the fewest vehicles are sold, the aforementioned factors have a bigger effect on the SAAR than they would in higher volume months. In fact, while the drop in the SAAR is notable, January sales results historically are not particularly indicative of future sales performance,” says Thomas King, president of the data and analytics division at J.D. Power. Continue reading →