LMC Automotive has revised its forecast for U.S. auto sales for the 2016-2023 periods. The company expects nearly 250,000 fewer units will be sold each year during that timeframe, with a larger reduction occurring between 2016 and 2017.
J.D. Power and LMC Automotive said this week that consumers are on pace to spend more than $32 billion on new vehicles this month, a first for the month of February. The two firms noted, however, that their projected 13.9 million retail SAAR is the lowest level since June and well below the 15.3 million pace set last September.
New-vehicle sales are expected to decline 1% year over year to a total of 1.59 million units in May 2015, resulting in an estimated 17.3 million seasonally adjusted annual rate, according to Kelley Blue Book.
Lease registrations have improved by an annual average of 18% since 2011, according to the NADA’s most recent installment of its Used Car Guide Perspective report.
At the NADA /J.D. Power Western Automotive Conference this week, NADA Chief Economist Steven Szakaly predicted that new-car and light truck sales will hit 16.94 million units in 2015.
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