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Sunday, February 24, 2013

Forecast: Solid Auto Sales in February

by Calculated Risk on 2/24/2013 02:18:00 PM

Note: The automakers will report February vehicle sales this coming Friday, March 1st. The consensus is for sales of around 15.2 million SAAR.

From Despite Rising Gas Prices, February Auto Sales Strong at Estimated 15.5 Million SAAR, says ... forecasts that 1,198,538 new cars and trucks will be sold in the U.S. in February for an estimated Seasonally Adjusted Annual Rate (SAAR) this month of 15.5 million light vehicles. The projected sales [NSA] will be a 14.9 percent increase from January 2013, and a 4.3 percent increase from February 2012.

“Car sales are persevering despite economic factors on people’s minds like rising gas prices and the implementation of the payroll tax,” says Senior Analyst Jessica Caldwell. “Pent-up demand and widespread access to credit are keeping up car sales momentum.”
The following table shows annual light vehicle sales, and the change from the previous year.  Light vehicle sales have seen double digit growth for three consecutive years.  The 2013 forecast was from, but it appears sales were above expectations in January and February - and the annual forecast will probably be increased.

Light Vehicle Sales
Sales (millions)Annual Change