Consumer demand for new vehicles during April is the best it’s been in 10 years, according to a new analysis by J.D. Power and LMC Automotive.
With the warmer, spring weather finally settling in across the U.S., total light-vehicle sales are projected to reach 1,463,700, a 5% increase compared with April 2014 and the highest level for the month since April 2005. The total seasonally adjusted annual rate of sales, or SAAR, is expected to hit 16.6 million units.
“The industry continues to outperform prior-year levels with respect to retail sales and transaction prices,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power. “The average new-vehicle transaction price so far in April is $30,680, on pace to achieve a new record for the month.” The current record was set in April 2014 when transaction prices averaged $29,948,” he said.