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Two extra selling days boost March auto sales
By Kalea Hall
YOUNGSTOWN
Auto analysts expect this March to be the best for industry sales since 2000.
It could even be better.
The industry’s momentum and two extra selling days in March 2016 over March 2015 could bring sales to an 8 percent year-over-year increase.
“March is one of the big months for sales,” said Tim Fleming, analyst at Kelley Blue Book.
KBB expects automakers, who will release their sales today, to post sales totaling 1.66 million.
TrueCar expects to see a 7.6 percent increase in new- vehicle sales to 1,663,000.
TrueCar analysts see Honda Motor Co. reporting the biggest year-over-year sales gain of 19 percent while KBB analysts expect Fiat Chrysler to post the highest year-over-year sales gain of 14.1 percent.
General Motors’ overall sales are expected to come in flat over last year because of the cutback on fleet sales made by the automaker. However, retail sales for GM are expected to be strong.
The compact segment will continue to lead in March, according to KBB analysts. Sales for the segment are expected to increase by 23.1 percent in March.
“The SUVs are continuing to surpass all expectations,” Fleming said.
GM’s reported sales of the Lordstown-built Chevrolet Cruze will include sales of the new next-generation Cruze, which recently reached some dealerships.
Analysts do expect GM to see a boost in the compact car’s sales with the new version on the ground.
“The old Cruze had been around for quite awhile,” Fleming said. “It might take a couple of months to build up the inventory [of the new Cruze].”
The industry’s overall momentum is expected to continue for the rest of the year.
“We are still expecting a record-breaking year this year relative to 2015,” said Eric Lyman, vice president of industry insights at TrueCar.