As analysts sift through the early sales numbers from March they have reached some different conclusions, but the overall picture remains relatively stable with the money spent on new vehicles setting a record as sales momentum begins to slow.
J.D. Power & Associates estimated that new-vehicle retail sales in March are expected to drop 2% lower on a selling-day-adjusted basis, which is the first time there has been a year-over-year decline in sales since August 2010.
However, Kelly Blue Book offered a different interpretation, estimating that March sales are expected to increase 8% year-over-year to a total of 1.66 million units in March 2016, resulting in an estimated 17.2 million seasonally adjusted annual rate or SAAR. Two additional selling days will help this month’s volume totals as the SAAR will stay relatively consistent with recent months. (more…)