Sales of new vehicles have picked up in March and are now expected to reach their best level in a decade, according to a new forecast from J.D. Power and LMC Automotive.
“Inclement weather in February caused many consumers to delay their new-vehicle purchase until March,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power.
Based on information collected by the Power Information Network, the combination of strong sales and high transaction prices positions March to set a new record for the month for consumer spending on new vehicles at approximately $37.7 billion, Humphrey said. (more…)