U.S. light-vehicle sales will continue their strong pace in March, according to a forecast from industry information compiler Ward’s Communications.
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A key reason for the robust market, Ward’s said, is that several major manufacturers are matching General Motors Corp.’s generous retail incentives.
“The generally better economic news also bodes well for car sales, as do the pumped up North American vehicle production schedules for April and May in the face of still rising import penetration,” said Ward’s manager of industry analysis Haig Stoddard.
Ward’s forecasts March light-vehicle sales to reach a 16.56 million seasonally adjusted annual rate (SAAR), about matching February’s 16.63 million, but a little below the 16.83 million of March 2001.
Actual unit volume is forecast at 1.53 million units, translating to a daily selling rate one percent below year-ago. The market’s strength means first-quarter 2002 will end with a SAAR of 16.36 million, third best start for any year on record.
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By GlobalDataWard’s also forecasts vehicle inventories will end March 1.8 percent below their February 28 level, helping to explain why production schedules for second-quarter North American production are set 2.2 percent ahead of year-ago.
