US Auto Sales on Pace for Third Consecutive Year Over 17 Million
US Auto Sales on Pace for Third Consecutive Year Over 17 Million
US sales of light-duty vehicles are tracking at a seasonally adjusted, annualized rate (SAAR) of 17.4 million vehicles after sales were tallied for May.
This is considerably higher than the original forecast of 16.9 million vehicles as the United States’ economic expansion hits its 10th year, the longest run on record. Fiat-Chrysler, Toyota, Nissan, Hyundai, and Subaru posted gains, while General Motors, Ford, and Honda saw sales decline comparing year-over-year values.
Average incentives increased slightly from $3,697 in 2018 to $3,722 per vehicle, as
reported by J.D. Power. Inventories of new cars exceeded 4 million vehicles for
the first time since 2000. Market experts still caution that despite the growth, there is a sizeable market of late-model used vehicles undermining retail demand.
Source: autonews.com
Enterprise Fleet Management Solution:
Your local Client Strategy Manager will provide you and your company with a comprehensive analysis reviewing the current state of the resale market, current manufacturer incentives and other trends that may impact your fleet as you look to cycle your vehicles. It's important to evaluate all of these factors and a few others when determining the best course of action for your fleet. Client Strategy Managers will review the manufacturer incentives on the vehicles you need and pair that will the optimum time to cycle.