March Auto Sales to Increase from 2016
March 24, 2017—ALG has estimated the total new vehicle sales, including fleet deliveries, will reach 1,585,800 units in March, up 0.2 percent from a year ago.
This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.9 million units for the month, up 1.6 percent from a 16.7 million-unit SAAR a year ago. Excluding fleet sales, U.S. retail deliveries of new cars and light trucks grew 1.0 percent with 1,275,806 units.
“Auto sales in the first quarter of 2017 are humming along and deliveries are in line with our expectations for the full calendar year,” said Eric Lyman, ALG’s chief industry analyst. “March faced a number of challenges, including winter storms that disabled dealerships in the Northeast for days, delayed tax refund payments and rising interest rates. Despite these headwinds, the industry managed to squeak out a slight gain year over year.”
Incentive spending by automakers averaged an estimated $3,511 per vehicle in March, up 13.4 percent from a year ago, and down 2.1 percent from February 2017.