Cox Automotive February Forecast: Tight Inventory Keeps U.S. Auto Sales From Gaining Traction

Date – 24/02/2022

-February new-car sales quantity is expected to enhance in comparison to January but stays extensively limited by way of low stock. 

– Annual new-automobile sales tempo in February is forecast to complete near 14.Four million, down from ultimate month’s 15.0 million pace, and down from closing year’s 15.9 million degree. 

– February income volume is anticipated to complete close to 1.08 million devices, a decline of nearly eleven% year over 12 months.

New-automobile sales in February are expected to reach 1.08 million devices, a drop of eleven% in comparison to February 2021, in line with a forecast launched nowadays with the aid of Cox Automotive. The February pace of U.S. Automobile income, or seasonally adjusted annual charge (SAAR), is forecast to show a market nonetheless extensively limited by lack of recent-vehicle supply and end close to 14.4 million, down from January’s 15.0 tempo, and down from remaining February’s 15.9 million level. There are 24 promoting days in February, similar to ultimate year, so the decline in pace isn’t always because of seasonal modifications, however instead a good deliver situation that continues to hold back the market.

Cox Automotive February Forecast: Tight Inventory Keeps U.S. Auto Sales

New-automobile income extent has been averaging just over 1.05 million every month considering that last August, and this February is not expected to dollar the fashion. Inventory stages aren’t displaying tremendous development. New-automobile stock is now 62% below last 12 months, and vAuto Available Inventory statistics show that to be had deliver declined ultimate week after rising for many weeks.

“The marketplace is heading into a totally thrilling duration,” said Charlie Chesbrough, senior economist at Cox Automotive. “With low deliver and coffee earnings volume, and no tangible market alternate anticipated, a big lower inside the earnings pace — a splendid drop in the SAAR — is likely inside the offing for next month. In the wintry climate, while low earnings volumes are expected, seasonal adjustments can result in a substantially strong SAAR, as we’ve in January and February. But come spring, even as income are expected to be heaps better, the SAAR will look specially inclined. Without a large leap in stock, March’s SAAR is going to show a extensive decline.”

February 2022 Sales Forecast Highlights 

  • New-car income are predicted to fall nearly eleven% from final February but ought to increase almost 8% from January 2022. February volume, but, is predicted to show a modest growth in comparison to January. 
  • The SAAR in February 2022 is expected to be 14.4 million, below final yr’s 15.9 million stage, and down from January’s 15.Zero million pace. 
  • The Mid-Size SUV/Crossover segment will see a 2.7% 12 months-over-year growth at the same time as all different segments are forecast to decreases with compact automobiles seeing the biggest drop at -19.Eight%.
Cox Automotive February Forecast: Tight Inventory Keeps U.S. Auto Sales

About Cox Automotive 

Cox Automotive Inc. Makes buying, promoting, owning and using motors easier for all people. The global business enterprise’s more than 27,000 team contributors and family of manufacturers, such as Autotrader®, Dealer.Com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are captivated with assisting millions of vehicle consumers, forty,000 car supplier clients across five continents and lots of others during the automotive enterprise thrive for generations to come back. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based totally business enterprise with annual sales of almost $20 billion.

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