SANTA MONICA, Calif. — Edmunds.com said this week the industry should sell 1,514,855 new cars and trucks in April for an estimated seasonally adjusted annual rate (SAAR) of 17.5 million.
The projected sales represent a 4.8% decrease from March 2016, but a 4.3% increase from April 2015. The vehicle information site noted that this month’s sales are poised to eclipse the April 2005 sales record of 1,500,648 new car and truck. It also said that, based on the current sales pace, 2016 should shatter last year’s full-year record of 17.5 million sales.
“Even though Q1 ended with a relatively lackluster March, the industry still as strong as ever, and this month’s sales will only reinforce that strength,” said Edmunds.com 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 that retail SAAR will come in at 14.4 million units in April, with fleet transactions accounting for 18.4 percent of total sales. An estimated 3.3 million used cars will be sold in April, for a SAAR of 38.2 million (compared to 3.6 million – or a SAAR of 37.1 million – used car sales in March).
For more, visit Edmunds.com’s Industry Center at www.edmunds.com/industry-center.
Originally posted on F&I and Showroom