J.D. Power and Associates: Feb. U.S. light-vehicle sales to rise 17%
According to J.D. Power and Associates, February new-vehicle retail sales are expected to remain strong, despite being a historically slow time of year for vehicle sales,
J.D. said that “February new-vehicle retail sales are projected to come in at 727,500 units, which represents a seasonally adjusted annualized rate (SAAR) of 10.3 million units. This marks the second month of a year-over-year selling rate increase of more than 2 million units. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles.”
“Retail sales in February got off to a slow start due to the snowstorms that affected the country from the Midwest to the Northeast,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. “However, the market rebounded quickly in the days that followed, leading to a slightly stronger selling rate than in January.”
Good stuff… moving on…
– By: Omar Rana
