Edmunds.com has forecast 1,514,855 new cars and trucks will be sold in the US in April for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.5m.The projected sales would be a 4.8% decrease from March 2016 but a 4.3% increase from April 2015.
This month's sales are poised to eclipse the April record of 1,500,648 new car and truck sales set in 2005, and 2016 is on track to shatter last year's full-year record of 17.5m sales, Edmunds com said.
"Even though Q1 ended with a relatively lacklustre March, the industry still as strong as ever, and this month's sales will only reinforce that strength," said director of industry analysis Jessica Caldwell. "Considering that April is typically the calm before the storm of summer sales, there's every reason to believe that 2016 will be a year for the history books."
Edmunds.com estimates retail SAAR will come in at 14.4m vehicles in April, with fleet transactions accounting for 18.4% of total sales. An estimated 3.3m used cars will be sold in April, for a SAAR of 38.2m (compared to 3.6m – or a SAAR of 37.1m – used car sales in March).