New-vehicle retail sales in January are expected to reach the highest levels for the month in a decade, both overall and on a seasonally adjusted annualized rate (SAAR) basis according to the latest forecast. Overall sales are also tracking at the same pace.
New-vehicle retail sales in January 2015 are projected to reach 932,000 units, an 8.5% increase on a selling-day adjusted basis compared with January 2014 since it has one more selling day than 2014. The retail SAAR in January is expected to be 13.9 million units, which is 1.0 million units stronger than January 2014, matching the levels reached in January 2004.
Total light-vehicle sales in January 2015 are predicted at 1.1 million units, an 8% increase, compared with January 2014. Fleet volume in January is projected to come in at 204,000 units, which, at 18 percent of total sales, is on par with the fleet percentage in January 2014.
Cheap gas and credit are fueling the growth in January, trucks, vans and SUVs account for 55.4% of sales, the highest level for a January since 2004, according to J.D. Power, the source of the soothsaying.
LMC Automotive is maintaining its 2015 retail sales forecast at 14.0 million and its total light-vehicle sales forecast at 17.0 million.
Auto sales in 2014 ended strongly, with total light-vehicle sales finishing at 16.5 million and retail light-vehicle sales tallying 13.6 million.