Cox Automotive Forecast: February New-Car Gross sales Anticipated to Improve Yr Over Yr, Due to Enhancing Stock, Fleet Gross sales Features

ATLANTA, Feb. 22, 2023 – New-vehicle gross sales in February are forecast to indicate a modest acquire when introduced subsequent week, an enchancment over final February’s supply-constrained market. Gross sales are anticipated to extend practically 4% from final 12 months and final month – a real quantity acquire by comparability since there are 24 promoting days in every month. Nevertheless, the February 2023 auto gross sales tempo, or seasonally adjusted annual price (SAAR), is anticipated to achieve 14.4 million, a decline from January’s surprisingly robust 15.7 million stage. With elevated auto mortgage charges and protracted inflation, a gross sales tempo decline from January was anticipated.   

Affordability is a rising headwind for automobile patrons however is impacting new and used gross sales in another way because the spring season approaches. In line with Charlie Chesbrough, senior economist at Cox Automotive: “Now we have diverging markets at present. New-vehicle costs stay excessive whereas used retail costs are actually in decline. New stock is slowly stabilizing whereas used provide is falling. Nevertheless, I wouldn’t be stunned to see this example change later within the spring. With many affordability-seeking automobile patrons leaving the brand new marketplace for the used, sellers could discover they’ve too little used stock, and worth declines could reverse. And, OEMs could discover they’ve an excessive amount of new-vehicle stock and be compelled to be extra aggressive with incentives to spice up gross sales.”

February 2023 Gross sales Forecast Highlights

• Mild automobile gross sales are anticipated to complete close to 1.105 million, a 3.9% rise from final month and a 4.0% improve from February 2022.
• The SAAR in February 2023 is estimated to be 14.4 million, above final February’s 13.7 million stage however down from January’s 15.7 million tempo.
• Fleet gross sales are anticipated to indicate robust year-over-year beneficial properties over February 2022’s inventory-limited market.
• February 2023 has 24 promoting days, equal to each February 2022 and January 2023.

February 2023 Gross sales Forecast

All percentages are primarily based on uncooked quantity, not day by day promoting price. 

About Cox Automotive
Cox Automotive is the world’s largest automotive companies and know-how supplier. Fueled by the most important breadth of first-party knowledge fed by 2.3 billion on-line interactions a 12 months, Cox Automotive tailors main options for automobile customers, automakers, sellers, retailers, lenders and fleet homeowners. The corporate has 25,000+ workers on 5 continents and a household of trusted manufacturers that features Autotrader®, Dealertrack®, Kelley Blue Ebook®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based firm with $21 billion in income. Go to coxautoinc.com or join by way of @CoxAutomotive on Twitter, CoxAutoInc on Fb or Cox-Automotive-Inc on LinkedIn. 

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