Automotive analyst research firms Edmunds.com and Kelly Blue Book predict sales last month will total about 1.5 million new cars and trucks, marking the best month of sales since 2007.
DETROIT- March is expected to be the best month of U.S. vehicle sales in more than five years.
Automotive analyst research firms Edmunds.com and Kelly Blue Book predict sales last month will total about 1.5 million new cars and trucks, marking the best month of sales since 2007.
“We’re not quite back to pre-recession levels, but the industry is getting closer to a full recovery every month,” said Edmunds.com senior analyst Jessica Caldwell in a statement.
Edmunds.com expects sales to total 1,478,208 million vehicles, which would mark the biggest single month since 1,555,945 new cars and trucks were sold in May 2007. KBB expects sales to come in at about 1.45 million vehicles sold, which would be the highest monthly sales total since August 2007.
The projected sales will be a 24.0 percent increase from February 2013, and a 5.3 percent increase from March 2012.
With “attractive incentives still widely available,” Kelley Blue Book anticipates sales of full-size pickup trucks to lead the sales growth with a 14.9 percent year-over-year improvement in March.
“Although incentives have helped boost truck sales in recent months, a steady climb in housing starts will continue to support the truck market even if incentive spending declines,” said Alec Gutierrez, senior market analyst of automotive insights for KBB
Volkswagen and Honda, according to KBB, will lead the way with expected gains of 9.6 and 8.7 percent, respectively. While leading in terms of year-over-year improvement, this contrasts with the double-digit growth Volkswagen posted throughout 2012.
Chrysler Group LLC also expects its year-over-year sales increase to continue for a 36th-consecutive month.
Reid Bigland, Chrysler head of U.S. sales, said he anticipates the Auburn Hills-based automaker to achieve the milestone during the 2013 New York International Auto Show last week.
“March is going to be a squeaker, but I think we’ll be up from a sales perspective,” he told media following the unveiling of the 2014 Dodge Durango at the show.
Bigland, also head of Dodge president and CEO, said he expects double-digit sales growth for the Dodge brand.
Automakers, including Chrysler, are scheduled to report their March sales on Tuesday.
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