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Friday, 30 April 2021 18:54

Cox Automotive April Forecast: Hot New-Vehicle Sales Pace Expected to Continue

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April U.S. auto sales, when announced in early May, are expected to reveal a very hot new-vehicle market.

The April sales pace is expected to finish near 16.5 million, down from March's robust 17.7 million level but still a healthy pace for the industry.

 

Sales in March were especially strong due in part to some February sales being delayed as a result of bad weather and the resulting power outages. The extra boost that benefitted March is not likely to be seen in April though.

 

Sales volume is expected to finish near 1.36 million, up nearly 640,000 units, a near 90% increase from last April's historic low result.

 

Given the shock to the market last spring, a better comparison to measure the strength of the market is calendar year 2019, the last year the industry saw a robust 17.0 million market. Versus April 2019, vehicle sales are expected to increase more than 30,000 units, or 2.3%, which suggests automobile sales are normalizing.

 

There is the same number of selling days this month as last month (26) and last April; however, there is one more than in April 2019.

 

Vehicle sales have made a tremendous comeback over the past year. It was just 12 months ago the sales pace reached a historic low of 8.7 million, the slowest monthly pace in nearly 50 years. Growing consumer confidence and...


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