Wednesday, February 24, 2016

Vehicle Sales Forecast: Sales to Reach 15-Year High for a February

by Bill McBride on 2/24/2016 03:55:00 PM

The automakers will report February vehicle sales on Tuesday, March 1st.

Note:  There were 24 selling days in February, unchanged from 24 in February 2015.

From WardsAuto: Forecast: February Sales Set to Reach 15-Year High

A WardsAuto forecast calls for U.S. automakers to deliver 1.34 million light vehicles in February, a 15-year high for the month. The forecasted daily sales rate of 55,868 over 24 days represents a 7.1% improvement from like-2015 (also 24 days).

The report puts the seasonally adjusted annual rate of sales for the month at 17.50 million units, compared with year-ago’s 16.32 million and January’s 17.45 million mark.
emphasis added
And from J.D. Power: New-Vehicle Sales in February Expected to Increase 8.1%
New-vehicle sales in February 2016 are expected to increase 8.1% from a year ago, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.

New-vehicle retail sales in February are projected to reach 1,046,700 units from 968,316 in February 2015, with the same number of selling days (24 days).
...
The SAAR for total sales is projected to reach 17.7 million units in February 2016, up 1.4 million units from 16.4 million a year ago and the highest rate since 2000 (18.9 million).
Looks like another strong month for car sales.