The April SAAR represents a drop of 47.6% compared to April 2019. Yet many industry watchers believe auto sales have bottomed out and are showing signs of recovery.
Analysts say April will be the worst auto sales month in at least 30 years due to the coronavirus pandemic.
According the new analysis, global light vehicle sales are now forecast to be 69.6 million units this year in the wake of the pandemic.
Although used vehicle prices have risen steadily in recent years due to a deluge of off-lease, option-rich SUVs, and trucks hitting used lots, experts say this trend is set to hit a turning point, according to new research from Edmunds.
Analysts forecast a SAAR of 11.9 million in March due to market disruptions caused by the COVID-19 crisis.
How trends from the past decade will impact F&I in 2020 and beyond.
Set your salespeople up for long-term success at your dealership.
New light-vehicle sales in February were strong, with a SAAR of 16.83 million units for the month—an increase of 1.9% compared to February 2019. Raw sales volume topped 1.3 million units, an increase of 8.4% compared to February of last year.
Global light vehicle sales figures from the first month of 2020 show just 6.2 million were sold in January, the lowest monthly figure since January 2012.
A new whitepaper from IAS offers a three-step plan for driving F&I and service drive sales as new vehicle sales plateau and margin compression continues to chip away at profits.
