For the second time this year, the seasonally adjusted annual rate (SAAR) for new vehicles fell below 17 million in August. Manheim, however, said the drop 'may be a good thing."
Despite current economic and political uncertainties, the NADA is sticking with its original sales forecast of 17.7 million news cars and light trucks for 2016. The association's chief economist, however, predicted that total sales will drop to 17.1 million units in 2017, noting that most of the pent-up demand from the Great Recession has been satisfied.
The 500,000 units sold in the first three months of the year has California dealers on track to sell more than million units in 2016, according to the California New Car Dealers Association.
Kelley Blue Book's new 'Get New Car Smart" marketing campaign is designed to reposition the brand away from being the used-car pricing and valuation destination to the go-to resource for new-car shoppers, company officials said.
Honda led the pack with five models making the list, while Chevrolet had three.
Renault-Nissan Alliance announced this week it will launch more than 10 vehicles with autonomous drive technology in the United States, Europe, Japan and China within the next four years.
The industry sold 1.32 million units in November, a 1.3% increase from a year ago. Year to date, 15.8 million cars and trucks have been sold, according to Autodata Corp.
New-vehicle retail sales and the retail seasonally adjusted annualized selling rate are expected to be at their highest levels for the month of June since 2005, according to a monthly sales forecast by J.D. Power and LMC Automotive.
New-car prices increased 3.6% over last February, with Hyundai-Kia showing the largest percentage gain of all major OEMs.
New-vehicle retail sales in March are showing signs of improvement following slower-than-expected sales in the first two months of 2014, J.D. Power and LMC Automotive report.
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