New car sales in the United States in March are expected to grow, after low results in January and February, LMC Automotive says.
According to LMC, in March new car sales in the US are expected to hit 1.19 million units, 7 percent more compared to March 2012 – and an annualized selling rate projected selling rate of 15.8 million units.
In addition, LMC forecasts that this year sales will hit 16.1 million units – down from their previous forecast of 16.2 million cars – and total new light vehicle sales in March 2014 will rise 6 percent to almost 1.5 million vehicles.
“The severe weather had an impact on retail sales in January and February, but as the weather has improved, so have sales,” said John Humphrey, senior vice president of the global automotive practice at JD Power.
In February new car sales fell less than 300 vehicles from 1,193,872 light cars sold in February 2013 – and January was down 3.3 percent.
“The selling pace for the year was slow out of the gate, but the industry remains poised for stable growth in the near- to mid-term,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive.
US Auto production
The North American auto industry has built 1.4 million vehicles in February – up 4.8 percent from the same period of 2013 – but even so supply basis are still at 80 days – 20 days more than the ideal level.
Overall factory output (not only vehicles) in February was up 1.5 per cent from a year ago.