U.S. new-vehicle sales rising in March on strong demand for cars and trucks
economy, the outlook for global vehicle sales has been increased by 200,000 from a month ago to 86.1 million units, up 6.2% from 2022," Jeff Schuster, president, global forecasts at LMC Automotive said.Retail sales of new vehicles are expected to reach 1.09 million units in March, a 1.9% increase from last year.
Availability of new vehicles at retailers is improving, but overall the industry remains supply constrained helping keep profitability well above historical norms, the report said. New-vehicle prices continue to rise, with the average price reaching $45,818 in March, a 3.5% increase from a year ago. For 2023, the consultants said global light-vehicle sales is expected to increase by 6.2% to 86.1 million units.
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