It will be a suspenseful Monday. When new car sales numbers will be announced for March, I could look like carmageddon never happened. After J.D. Power had predicted sales of 1,372,400 units for March and Kelley Blue Book 1,425,000 units, real-time date equipped Edmunds now sees a total of 1,451,956 new cars changing hands. That would translate into a Seasonally Adjusted Annual Rate (SAAR) of 14.9 million units.
Edmunds Sales Projections March
Edmunds says that loosening credit and a shift to more fuel-efficient small cars drives auto sales to a 16.5 percent increase over March 2011. Says Jessica Caldwell, Senior Analyst at Edmunds.com.
“After delaying purchases over the last couple of years, consumers are eager to jump into the new car market. Vehicle trade-in rates have achieved sustained highs in recent months, which suggests that consumers have decided that they’ve held on to their cars for too long. And with the average credit score for new car buyers at its lowest level since the first half of 2008, the market is clearly becoming a friendlier place for all buyers.”
Edmunds Market Share Projections March
Edmunds sees Chrysler celebrating a one year anniversary of more than ten percent market share. Edmunds predicts Toyota to be the top performer among the Big 3 Japanese automakers, due to healthier inventory and favorable pricing.