Car sales should be solid in April
May 5, 2014
Car sales are about to rev up in the second quarter of 2014, according to Edmunds.com, one of the top destinations for car shopping and industry trends. The forecast states that more than 1.4 million new cars and trucks will be sold throughout the nation in April for an estimated seasonally adjusted annual rate (SAAR). of 16.2 million.
“April's numbers suggest that car shoppers are still motivated to buy new cars, erasing any doubts raised by lackluster sales at the beginning of the year,” said Jessica Caldwell, a senior analyst at Edmunds.com.
Car sales are expected to increase year over year in April.
While the predicted sales will be an 8.7 percent decrease from March 2014, the forecast is coming in at a 9.1 percent surge from April 2013. The prognosis anticipates the automotive industry will reap the best sales in since April 2006, when more than 1.44 million vehicles were sold.
“The sales performance the last two months is more in line with what we projected for 2014, and there's every reason to believe that car shoppers will continue to keep this pace,” Caldwell said.
Forecast by brand
Nissan, Toyota and Chrysler are expected to post the best year-over-year numbers in April. Nissan is expected to improve its sales total by 17.9 percent in April compared to the same period a year ago. Toyota and Chrysler anticipate a 14 percent and 12.3 percent surge, respectively, during that same span.
Of the eight major auto manufacturers, Honda is slated to have the lowest year-over-year growth in April. However, the Japanese auto manufacturer is also expected to have the most positive forecast from March to April.
“Auto sales are hitting their stride as the spring selling season begins, and the pace has returned to the level expected at this stage of the recovery,” Jeff Schuster, senior vice president of forecasting at LMC Automotive, told Reuters. “Fueling the growth further as the year progresses is a very robust level of new-model activity, with 63 new or redesigned models expected to hit showrooms, a 60 percent increase from last year.”
LMC Automotive told Forbes that the forecasts for the full-year 2014 auto sales across the country should come in at 16.1 million vehicles, a significant improvement from the 15.6 million vehicles sold in 2013.
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