As February draws to a close, automotive analysts try to predict the outcome of sales for a month with a shorter number of selling days than the rest of the year.
Find out what KBB’s senior market analyst Alec Gutierrez forecasts.
For the month of February, analysts predict sales will maintain the momentum from the previous three months and hit 15.3 million seasonally adjusted annual rate (SAAR), a 3.4 percent year-over-year improvement, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information. Although shy of the 14 percent annual gain the auto industry experienced in January, sales should improve more than 7 percent after adjusting for the number of selling days in February.
“Similar to previous months, consumers will be lured to dealer showrooms by low finance rates, affordable lease payments, and most importantly, new and compelling product,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. “As of February 1, approximately 80 percent of new vehicles available for sale were model-year 2013, so consumers should have no problem locating a newly redesigned 2013 Ford Fusion, Honda Accord, Nissan Altima or Chevrolet Malibu.”