US car market surged in March | Automotive Industry News

The US light commercial vehicle market was surprised by the March turnaround and far exceeded analysts’ expectations.

According to LMC Automotive, the light commercial vehicle market in March sold 18 million units a year, the highest ever this month.

Despite the suspension of production due to a shortage of parts (semi-sinductor), the results of strings were obtained.

According to LMC, the market sold 1.61 million units, making it the third best March in history, with sales recorded only in 2000 and 2018, respectively. Due to the 2020 pandemic slump, sales volume in March 2021 increased 63% from March last year, but sales dates have increased by one day.

Strong results translate into an annual rate of 18 million units, the highest SAAR for the month of March. SAAR increased by 6.7m from a year ago and 2.2m from February. Sales for the quarter were 3.89 million units, up 12% from the first quarter of 2020.

The numbers were driven primarily by retail demand-total sales of 1.38 million units, just 984 less than December, traditionally a much stronger month.

Fleets accounted for 14% of total sales, down from 18% in January and 17% in February.

Transaction prices were record highs in March, with incentives as a percentage of suggested retail prices falling below 10% for the eighth straight month. According to LMC, delays in weather-related purchases in February, checks on government stimulus measures, and optimism about returning to normal conditions are likely to have skyrocketed.

US car market surged in March | Automotive Industry News

Source link US car market surged in March | Automotive Industry News

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