Despite some uneasy market conditions, March could see a near double-digit sales growth. The latest report predicts 1.2 million light vehicles will be sold during the month of March, representing a 9 percent increase over the same month last year.
According to J.D Power and Associates’ monthly report, sales are trending upward in March, likely to result in total light vehicle sales of 1.2 million units. Of those sales, 991,900 are expected to be retail sales, translating to a seasonally adjusted annualized rate of 10.9 million units.
Additionally, J.D. Power raised its first quarter forecast to 10.7 million vehicles, up from 10.6 million. Total sales for 2011 could hit 13 million units, which would be an increase of 13 percent from 2010.
“With all the dynamic variables kind of interplaying out there right now, we still are seeing strong sales,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates.
“We’re also seeing that the likelihood of some inventory shortages is actually causing buyers to maybe push up their purchase decisions to hit the dealerships now while there still is inventory on some of the models that may be in short supply, so March could be getting a boost from that as well.”
However, those same inventory concerns could limit growth during the month of April.
References
1.’J.D. Power: March…’ view
No comments:
Post a Comment