February 24, 2014—Though severe weather in much of the U.S. during the first half of February disrupted new-vehicle sales, sales are expected to increase toward the end of the month, according to a monthly sales forecast developed by J.D. Power and LMC Automotive.
February’s new-vehicle sales are forecasted to reach 972,400, a 5 percent increase from February 2013.
Total light-vehicles sales in February 2014 are projected to reach 1.2 million units, a 3 percent increase from February 2013.
Despite the initial slow start to the year, LMC Automotive’s forecast for total light-vehicle sales in 2014 remains at 16.2 million units, with retail light-vehicle sales of 13.3 million units.
John Humphrey, senior vice president of global automotive practice at J.D. Power said the record average transaction prices are another sign of the continuous strength of the industry.
"The industry is on track to reach its highest-ever average transaction price for the month of February, with prices exceeding $29,000," Humphrey said. "This beats the previous record from February 2013 by more than $400."
