U.S. light-vehicle sales in April 2013 were set to reach 1.286 million unit sales, which would be up 4% from a year ago on a selling-day adjusted basis,* according to an update from J.D. Power and Associates and its strategic partner, LMC Automotive. The sales rate in April would translate to a slightly lower 14.9 million-unit seasonally-adjusted selling pace.
Early automaker reports indicate that sales (unadjusted) will rise about 9% from a year ago, partly due to higher demand for large pickups and compact crossovers.
The Detroit Three led sales gains with double-digit increases from April 2012. They outpaced two of their top-volume Japan-based rivals—Toyota and Honda Groups. In early results, the third major Japanese automaker, Nissan Group, reported one of the best year-over-year gains—sales were up 23% on an unadjusted basis from April 2012.
Demand was particularly strong for large pickups with improvement in the housing and construction markets. The resilience of the U.S. consumer’s pent-up demand also bolstered sales, according to Jeff Schuster, senior vice president of forecasting at LMC Automotive. He said consumer spending remains remarkably stronger than the economy suggests it should be. Continue reading ›