Total light-vehicle sales in April are expected to increase 1% on a selling-day adjusted basis from a year ago, marking the strongest total sales in April on record, according to a new estimate from J.D. Power.
However, based on the modest growth exhibited year-to-date, LMC Automotive and J.D. Power are reducing their retail light-vehicle sales forecast for the year to 14.3 million units from 14.5 million units. The revised full-year outlook is a 1% increase compared with 2015, when retail new-vehicle sales totaled 14,245,231, which made it the best retail sales year since 2001.
While the full-year retail forecast has been revised downward, LMC Automotive expects those retail sales to be recouped through increased fleet sales. (more…)