April Auto Sales Find A Higher Gear, Spring Selling Season Gets Going

Apr 30 2014, 7:10pm CDT | by

Forecasters predicted U.S. auto sales of about 1.4 million cars and trucks when automakers report April auto sales on Thursday, May 1.

Cars.com said April auto sales of about 1.4 million would be a 10 percent increase from April 2013. The April sales increase hikes the estimated Seasonally Adjusted Annual Rate to about 16.3 million, the highest for the month of April since 2006, according to Cars.com. The monthly SAAR is an estimate of sales for the full year, based on the April sales pace.

Cars.com said sales are going up and so are discounts. The online shopping site said it expects the average industry transaction price, net of incentives, to decrease about 3 percent to $29,810. That’s $864 lower than the same month a year ago. The average industry incentive for April was an estimated $2,580, Cars.com said, an increase of $41 from a year ago.

Of the domestic U.S. manufacturers, Cars.com expected Chrysler Group to have the biggest percent increase in sales from a year ago, up 13.7 percent. Ford Motor Co. and GM were expected to be up 2.5 percent.

TrueCar had a similar April forecast, with a monthly SAAR of 16.2 million, and an expected increase in the average industry incentive, although its forecast for the average incentive was higher, at $2,751 for April 2014.

Larry Dominique, president of ALG Inc. and executive vice president of TrueCar, said Asian brands led the increase in incentives. TrueCar also expected Chrysler Group to have the biggest percent increase of the U.S. domestic manufacturers.

The Kelly Blue Book forecast for April was a SAAR of 16.3 million, based on roughly the same unit sales for April of about 1.4 million cars and trucks. In April 2013, the SAAR was 15.2 million, Kelly Blue Book said.

Alec Gutierrez, senior analyst for Kelly Blue Book, said consumer confidence is rising and employment conditions are improving.

The SAAR forecast for J.D. Power and Associates and LMC Automotive was on the low side, at 16.1 million, even though their forecast for unit sales was in the same range as other forecasters, at around 1.4 million.

Jeff Schuster, senior vice president of forecasting at LMC Automotive, said the spring selling season is under way, with 63 new or redesigned vehicles expected for the 2015 model year, including a big increase in smaller cars from luxury brands.

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Journalist beheading: US defends refusal to pay ransom to kidnappers
Washington, Aug 22 (IANS) Amid the shock and horror of American photojournalist James Foley's beheading and revelations that his captors had demanded a ransom of $132 million, the US has defended its policy of no...
Read more on Ad Balla
 
Monkey doesn't own his selfie: US regulator
New York, Aug 22 (IANS) The US Copyright Office has confirmed that a monkey - or any other animal - that takes a selfie does not own the copyright of the photo. A selfie taken by a black macaque on the Indonesian...
Read more on Apple Balla
 
33 killed in Egypt bus accident
Cairo, Aug 22 (IANS) At least 33 people were killed and 41 injured Friday as two buses collided in Egypt's Sinai Peninsula, officials said. According to security officials, the injured included Russian, Yemeni and...
Read more on Politics Balla
 
Ancelotti confirms Di Maria transfer request
Madrid, Aug 22 (IANS) Real Madrid coach Carlo Ancelotti confirmed that the club's Argentinean international winger Angel Di Maria had asked for a transfer. Ancelotti's comment confirmed the rumours that have been...
Read more on Sport Balla
 
Indian, Asian businesses hit hard by unrest in US town
Washington, Aug 22 (IANS) Even as a semblance of order was restored in a small city in Missouri after nearly two weeks of unrest, Indian and other Asian-American-owned businesses were reported to be in a mess after...
Read more on Politics Balla
 
Violence against Iraqis worst seen this century: UN
United Nations, Aug 22 (IANS) The violence against children, women and minority communities in Iraq in the past few weeks is one of the worst seen in this century, a UN spokesperson said Thursday, citing information...
Read more on Politics Balla
 
Robin Williams to be honoured at Emmys
Los Angeles, Aug 22 (IANS) Actor-filmmaker Billy Crystal will pay a tribute to late actor Robin Williams at the forthcoming Emmy Awards event. The 66-year-old comedian will lead tributes to Williams, who was found...
Read more on Celebrity Balla
 
Islamic terrorists must be defeated: US army official
Washington, Aug 22 (IANS) It is possible to contain the Islamic State (IS) forces, but not in perpetuity, a senior US army official said Thursday. Martin Dempsey, chairman of US Joint Chiefs of Staff, said during a...
Read more on Politics Balla
 
Jessica Alba's 'super' imagination
Los Angeles, Aug 22 (IANS) The "Fantastic Four" star Jessica Alba used to imagine she was "super-human". As a child, the actress used to spend hours dreaming of having special powers that would take her ahead of her...
Read more on Celebrity Balla
 
Uganda to face Niger ahead of Afcon qualifier
Kampala, Aug 22 (IANS) Head coach of Uganda Cranes Milutin 'Micho' Sredojevic said Thursday that his team will play away to Niger in an international friendly Sep 2 ahead of a 2015 Africa Cup of Nations (Afcon)...
Read more on Sport Balla