The latest stats from auto researchers estimate between 1.3 and 1.4 million new cars sold in the February 2016. TrueCar, Edmunds.com and Kelley Blue Book reported estimates for new vehicle sales. Used vehicles sales are estimated to be
TrueCar projects total new vehicle sales, including fleet deliveries, will reach 1,340,160 units in February, up 6.6 percent from a year ago to the highest volume for the month since 2001.
Ford Motor Co. may report the biggest year-over-year sales gain, as it is currently on pace for a 13.1 percent rise in volume. FCA will likely follow with an 8.6 percent sales increase. Nissan Motor Co. may post the third-biggest gains, with a 7.6 percent increase.
Volume for non-luxury, mass-market brands will likely expand by 6.8 percent versus last year, while sales of luxury models may grow only 3.9 percent. Compact crossover vehicles remain in high-demand this month and will be among the industry’s biggest volume segments.
Despite global stock market volatility since the start of 2016, most U.S. economic conditions remain healthy. January’s unemployment rate was 4.9 percent, the lowest for that month in nine years, and gasoline prices remain favorable for consumers, falling to a national average of $1.71 per gallon on February 24 from $2.31 a year earlier. However, the Conference Board’s Consumer Confidence Index®decreased by 5.6 points in February from a month earlier to 92.2.
An estimated 1,354,503 new cars and trucks will be sold in the U.S. in February for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.7 million, according a new forecast from car shopping destination Edmunds.com. The projected sales will be an 18.3 percent increase from January 2016, and a 7.9 percent increase from February 2015. The 17.7 million SAAR would mark the highest in the month of February since 2000.
“Typically January and February are relatively slow months in terms of car sales; if that’s true for 2016, and we only go up from here, we are looking at a remarkable year,” said Edmunds.com Senior Analyst Jessica Caldwell.
An estimated 3.5 million used cars will be sold in February, for a SAAR of 37.9 million (compared to 3.1 million – or a SAAR of 38.7 million – used car sales in January).
Kelley Blue Book also announced its figures.
In February 2016, new light-vehicle sales, including fleet, are expected to hit 1,370,000 units, up 9 percent from February 2015 and up 20 percent from January 2016.
American Honda is expected to increase most out of the major automakers, with growth of nearly 13 percent year-over-year. Most of this strength will be from the new Civic, even though sales recently were slowed by the stop-sale on one of the engine options. Regardless, the Civic remains extremely popular with consumers and is averaging 45 days in dealer inventory before selling, much lower than the compact car segment average of 80 days.
Ford also could post double-digit growth in February 2016, with improvement expected from its truck and SUV models. In particular, the F-Series and Explorer are likely to fuel the brand’s strength.