WESTLAKE VILLAGE, Calif., Jan.
26, 2015 /PRNewswire/ -- New-vehicle retail sales in
January are expected to reach the highest levels for the month in a
decade, both overall and on a seasonally adjusted annualized rate
(SAAR) basis, according to a monthly sales forecast developed
jointly by J.D. Power and LMC Automotive.
Retail Light-Vehicle Sales
New-vehicle retail sales in
January 2015 are projected to reach
932,000 units, an 8.5 percent increase on a selling-day adjusted
basis compared with January 2014
(January 2015 has one more selling
day than January 2014). The retail
SAAR in January is expected to be 13.9 million units, which is 1.0
million units stronger than January
2014, matching the levels reached in January 2004. Retail transactions are the most
accurate measure of consumer demand for new vehicles.
"The year is off to a great start with exceptional growth in
retail sales," said John
Humphrey, senior vice president of the global automotive
practice at J.D. Power. "The sales momentum seen throughout
2014 is continuing into 2015 and, unlike last year, inclement
weather has not slowed vehicle sales thus far. With an additional
weekend in January this year, the industry is on a trajectory to
post the second-largest year-over-year retail sales growth in the
past 17 months."
Humphrey also mentioned that with the continuation of low gas
prices, consumers are purchasing more trucks. So far in January,
trucks, vans and SUVs account for 55.4 percent of sales, the
highest level for a January since 2004.
Total Light-Vehicle Sales
Total light-vehicle sales in
January 2015 are expected to reach
1.1 million units, an 8 percent increase, compared with
January 2014. Fleet volume in January
is projected to come in at 204,000 units, which, at 18 percent of
total sales, is on par with the fleet percentage in January 2014.
J.D. Power and LMC Automotive U.S. Sales and SAAR
Comparisons
|
January
20151
|
December
2014
|
January
2014
|
New-Vehicle Retail
Sales
|
932,100
units
(8% higher than
January2013)2
|
1,232,022
units
|
826,177
units
|
Total Vehicle
Sales
|
1,135,900
units
(8% higher than
January2013)
|
1,504,467
units
|
1,010,713
units
|
Retail
SAAR
|
13.9 million
units
|
13.8 million
units
|
12.9 million
units
|
Total
SAAR
|
16.4 million
units
|
16.8 million
units
|
15.2 million
units
|
1Figures
cited for January 2015 are forecasted based on the first 13 selling
days of the month.
|
2The
percentage change is adjusted based on the number of selling days
in the month (26 days in January 2015 vs. 25 days in January
2014).
|
Sales Outlook
Auto sales in 2014 ended strongly, with
total light-vehicle sales finishing at 16.5 million and retail
light-vehicle sales tallying 13.6 million.
LMC Automotive is maintaining its 2015 retail sales forecast at
14.0 million and its total light-vehicle sales forecast at 17.0
million.
"The auto industry is starting 2015 on auto pilot with January
tracking as expected after a vigorous December," said
Jeff Schuster, senior vice
president of forecasting at LMC Automotive. "Growth of 3
percent should be easy to achieve as the risk could be centered
more with automakers and suppliers not being able to keep up with
demand if growth were to be stronger than we project."
North American Production
Vehicle production in
North America ended 2014 at 16.9
million units, a 5 percent increase from 2013. Significantly
outpacing the annual increase, production in December was at 1.2
million units, 16 percent stronger than December 2013.
Given the strong pace of sales in December, however, inventory
levels dropped to a 61-day supply at the beginning of 2015 from 71
days at the beginning of December.
Vehicle output in North America
is expected to continue to increase in 2015, but with a slowing
growth rate. LMC Automotive is maintaining the current forecast for
North American production at 17.4 million for 2015, a 3 percent
increase compared with 2014. Production in the first quarter of
2015 is projected to reach 4.3 million units, a 4 percent increase
compared with the same period in 2014.
About J.D. Power
J.D. Power is a global marketing
information services company providing performance improvement,
social media and customer satisfaction insights and solutions. The
company's quality and satisfaction measurements are based on
responses from millions of consumers annually. Headquartered in
Westlake Village, Calif., J.D.
Power has offices in North/South
America, Europe and
Asia Pacific. For more information
on car reviews and ratings, car insurance, health insurance, cell
phone ratings, and more, please visit www.JDPower.com. J.D. Power
is a business unit of McGraw Hill Financial.
About McGraw Hill Financial
McGraw Hill
Financial (NYSE: MHFI) is a leading financial intelligence
company providing the global capital and commodity markets with
independent benchmarks, credit ratings, portfolio and enterprise
risk solutions, and analytics. The Company's iconic brands include:
Standard & Poor's Ratings Services, S&P Capital IQ, S&P
Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has
approximately 17,000 employees in 30 countries. Additional
information is available at www.mhfi.com.
About LMC Automotive
LMC Automotive is the
premier supplier of automotive forecasts and intelligence to an
extensive client base of automotive manufacturer, component
supplier, logistics and distribution companies, as well as
financial and government institutions around the world. LMC's
global forecasting services encompass automotive sales, production
and powertrain expertise, as well as advisory capability. LMC
Automotive has locations in the United
States, the UK, France,
Germany, China Japan and
Thailand and is part of the
Oxford, UK-based LMC group, the
global leader in economic and business consultancy for the
agribusiness sector. For more information please visit
www.lmc-auto.com.
Media Relations Contacts
John
Tews; J.D. Power; Troy,
Mich.; 248-680-6218; media.relations@jdpa.com
Emmie Littlejohn; LMC Automotive;
Troy, Mich.; 248-817-2100;
elittlejohn@lmc-auto.com
No advertising or other promotional use can be made of the
information in this release without the express prior written
consent of J.D. Power or LMC Automotive.
www.jdpower.com/corporate www.lmc-auto.com
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SOURCE J.D. Power