Although several selling days remain in the month, March auto sales are expected to return to levels not seen since 2008. March is expected to post a seasonally adjusted annualized sales rate (SAAR) of 13.2 million units, which would be the highest level – excluding cash for clunkers months – since August 2008.
According to a new report from Edmunds, March will post a SAAR of 13.2 million vehicles, marking the highest non-incentivized month since August 2008. During the government’s cash for clunkers program, SAAR hit a peak of 13.7 million units in August 2009.
“The industry has been recharged by incentive offers from Toyota and other automakers,†said Edmunds.com analyst Jessica Caldwell. “There’s a lot of money in the marketplace right now, and people are responding.â€
Although not as optimistic as Edmunds, J.D. Power and Associates expects March sales to total 1.09 million vehicles, representing a 23 percent increase over March 2009. According to J.D. Power’s data, the SAAR for the first half of March was 12.1 million units.
In addition to a better economic outlook, March sales have been fueled widespread incentives.
References
1. ‘March auto sales up…’ view
2. ‘March sales rise…’ view
