The Financial Express

'US auto sales seen falling in March’

| Updated: March 30, 2019 11:23:09

'US auto sales seen falling in March’

US auto sales are expected to drop about 2.1 per cent in March from a year earlier, partly due to bad weather, mixed economic data and lower tax refunds, according to industry consultants JD Power and LMC Automotive, according to Reuters.

The consultancies expect total US vehicle sales of about 1.56 million units in March.

Retail sales are expected to touch 1,195,000 units in March, a 3.4 per cent decline from a year earlier, the consultancies said on Tuesday.

The first-quarter sales are off to its slowest start since 2013, according to the industry consultants, who estimate retail sales in the quarter to be about 2.94 million vehicles - a decline of 4.9 per cent compared to the same period a year ago.

“This is the first time in six years that Q1 sales will fall short of 3.0 million units. While the volume story could be better, there is remarkable growth in transaction prices, with records being set monthly,” Thomas King, senior vice-president of the data and analytics division at JD Power, said.

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