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March Auto Sales Expected to Best in A Decade

Slower February sales help bolster results.

by on Mar.23, 2015

March sales are expected to be at their highest level in a decade due to poor weather in February.

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.

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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…)

March Sales Hold Strong Despite Fuel Price Worries

More buyers downsizing as gas nips $4.

by on Mar.23, 2012

Improved availability of Japanese products, like the 2012 Toyota Camry, is helping boost March sales.

Sales of new vehicles have remained strong during March as the industry finishes off a robust first quarter – even though some observers had been worried that the market might begin to drag as fuel prices continue climbing towards record levels.

In another sign of strength in the automotive sector, Volkswagen of America has confirmed plans to add 800 jobs at its assembly plant in Chattanooga, Tenn., joining other automakers in adding jobs at assembly plants in the South and Midwest to keep pace with the demand for new vehicles. VW opened that Chattanooga plant last year as part of its plans to rebuild its market share in the US.  (For more on VW’s plans, Click Here.)

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So far this year, sales of VW brand models have increased 40%, officials from the German automaker said this week.

Meanwhile, Kelley Blue Book, KBB, a leading provider of information about new and used cars, estimates new-vehicle sales will reach 1,425,000 units in March.  That works out to a seasonally adjust annual sales rate, or SAAR, of 14.6 million.

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