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

The Black Friday 2014 Sales You can Shop Today 11/26
The Black Friday 2014 Sales You can Shop Today 11/26
Over 20 Black Friday 2014 sales are already launched. Get the deals early to get your head free for the hard to get Black Friday deals to be released on Thanksgiving Day.
 
 
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...
 
 
 

Latest from the Network

Apple Black Friday Sale Released
The Apple Black Friday 2014 Sale has launched online at the Apple Store. Apple has announced a huge charity promotion to fight AIDS for Black Friday and Cyber Monday. Apple will donate a portion of the sales the company...
Read more on Apple Balla
 
A look at Black Friday video game deals
All major retailers will be getting in the video game Black Friday spirit. PS4 and XBox One will certainly be two consoles that should garner huge sales but actual games should do good as well. One thing that is for...
Read more on Black Friday Countdown
 
Comics looking for event filled Black Friday
While video games and other electronic gadgets look to be the big draw on deals during Black Friday, comic book readers and fans will be able to find their fair share of deals as well. It has been announced that two...
Read more on Black Friday Countdown
 
Anna Kendrick positive after nude photo leak
Anna Kendrick is looking at the positives following the recent hacking of her nude photos. The 'Pitch Perfect' star - whose naked pictures were posted online by hackers earlier this year alongside other stars like...
Read more on Celebrity Balla
 
Benedict Cumberbatch hates selfies
Benedict Cumberbatch hates selfies. The 'Imitation Game' actor - who recently announced his engagement to Sophie Hunter - won't be personally taking any photos of him and his bride on their wedding day and instead would...
Read more on Celebrity Balla
 
James Franco filmed threesome with Zachary Quinto
James Franco and Zachary Quinto filmed a threesome for their new film 'Michael'. The actors took part in the sexy scene alongside the former 'Desperate Housewives' star Charlie Carver for the upcoming drama, according...
Read more on Movie Balla
 
UN condemns attack on British embassy vehicle
United Nations, Nov 28 (IANS) The UN Security Council (UNSC) has condemned the attack on a British embassy vehicle in Kabul, Afghanistan. "The members of the UNSC expressed their deep sympathy and condolences to the...
Read more on Politics Balla
 
Not all mosquitoes can transmit malaria
New York, Nov 28 (IANS) A genetic study has revealed that certain species of mosquitoes have evolved to better transmit malaria than even some of their close cousins. The study may advance understanding about the...
Read more on Business Balla
 
Rio judge ends Olympic golf course impasse
Rio de Janeiro, Nov 28 (IANS) A Rio de Janeiro judge has rejected a request by public prosecutors to suspend an environmental permit for work on the 2016 Olympic golf course. Judge Eduardo Antonio Klausner said there...
Read more on Sport Balla