New Car Prices Reach High Featured

By Staff Writer May 30, 2018

The new-vehicle retail sales pace in May is expected to fall from year-ago levels, according to a forecast developed jointly by J.D. Power and LMC Automotive. 
However, the average new-vehicle retail transaction price to date in May is $32,380, a record for the month, surpassing the previous high for the month of $31,188 set in May 2017.

The SAAR for retail sales is expected to be 13.4 million units, down 200,000 from a year ago. 

Retail sales are projected to reach 1,270,200 units, a 1 percent decrease on a selling day adjusted basis compared to May 2017. May 2018 has one more selling day than May 2017.

Without the selling day adjustment, retail sales would be up 3 percent.

Average incentive spending per unit to date in May is $3,665 per unit. Through the first five months of the year spending is $3,898, up $128 from the prior year.

Consumers are on pace to spend $41.1 billion on new vehicles in May, nearly $2.7 billion more than last year's level.

Trucks account for 67 percent of new-vehicle retail sales through May 20 - the highest level ever for the month of May - making it the 23rd consecutive month above 60 percent.

Days to turn, the average number of days a new vehicle sits on a dealer lot before being sold to a retail customer, is 68 through May 20, down two days from last year.

Fleet sales are expected to total 297,700 units in May, up 0.9 percent from May 2017. Fleet volume is expected to account for 19 percent of total light-vehicle sales, which is flat vs. last year.

Last modified on Wednesday, 30 May 2018 13:33

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