Kelley Blue Book’s senior market analyst, Alec Gutierrez, sees good results for automakers when reporting their March sales figures.
Find out more about what Gutierrez has to say.
New-car sales will remain steady at a 15.2 million seasonally adjusted annual rate (SAAR) in March, according to Kelley Blue Book.
This marks a 3.2 percent increase from last year, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information. However, after adjusting for selling days in March, sales are set to improve by more than 7 percent. Although the percentage improvements are slightly slower than the first two months of the year, the expected 1,450,000 unit total is set to be the highest monthly sales total since August 2007.
“Sales will be boosted by record low interest rates and a slowly improving job market, which recently saw the unemployment rate and new unemployment claims fall to five-year lows,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. “In addition, with attractive financing and ample inventory to choose from, many people receiving tax refunds will use their returns toward a down payment on a new vehicle this month.”