March sales of US light vehicles are coming in stronger than expected, according to JD Power and Associates. New light-vehicle sales in March are projected to reach a 16.5 million to 17 million seasonally adjusted annualised rate (SAAR), according to the company’s analysis of retail sales data from the first two weeks of the month.
March sales are expected to come in less than 1 percent below what was a very strong March 2001.
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“We had expected the first quarter to be the weakest of the year, but it appears we’re going to be pleasantly surprised,” said Dr. Walter McManus, executive director of global forecasting at J.D. Power and Associates. “Based on the robust sales of the first quarter, we’re boosting our 2002 calendar-year forecast from 16 million units to 16.4 million units.”
Despite many of the aggressive incentive programs still in place through the end of March, domestic vehicle sales continue to show the greatest year-over-year declines. European automakers are benefiting from a strong luxury car market.
At the segment level, SUV sales continue to grow in March. The sporty car, luxury car and pickup segments are also seeing strong year-over-year sales, while the van, full-size and midsize car segments are expected to post double-digit declines from a year ago.
