Analysts predict that US auto sales in March will see an increase of 5.3% to 1.47 million units, an increase of 24% from February’s sales.
Edmunds.com predicts that GM will report the biggest market share of 17%, but will announce a 1.8% drop in market share compared with the 18.8% reached in February. Honda is the only car maker which is seen reaching an increase in both month-over-month (0.2 points from 9.1%) and year-over-year (0.3 points to 9.3%).
“Sales will be boosted by record low interest rates and a slowly improving job market, which recently saw the unemployment rate and new unemployment claims fall to five-year lows,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book.
In 2012 automakers sold 14.5 million vehicles in the US market, an increase from the 10.2 million sold in 2009, in the heat of the last recession, but a decrease from the pre-recession level of 17 million vehicles. Kelley Blue Book predicts that GM will report 246,000 units sold in the US, Ford 233,000 units, Toyota 209,000 units, Chrysler 169,000 units, Honda 138,000 units, Nissan 130,500 units, Hyundai 119,500 units and VW 53,000 units.