J.D. Power: Retail Sales Up for Month

By Staff Writer December 29, 2020

 

New-vehicle retail sales for the month of December are expected to be up from December 2019, according to a joint forecast from J.D. Power and LMC Automotive.

Retail sales for new vehicles are projected to reach 1,400,300 units, a 1.0 percent increase compared with a year ago when adjusted for selling days. December 2020 contains three more selling days and one more selling weekend than December 2019. Comparing the same sales volume without adjusting for the number of selling days translates to an increase of 13.1 percent year over year. New-vehicle retail sales for the 2020 calendar year are projected to reach 12,386,000, a 9.5 percent decrease from 2019.

Total new-vehicle sales for the month of December—including retail and non-retail transactions—are projected to reach 1,619,000 units, a 5.1 percent decrease from December 2019 when adjusted for selling days.

Thomas King JD Power
Thomas King

Reporting the same numbers without controlling for the number of selling days translates to an increase of 6.3 percent from December 2019. New-vehicle total sales for 2020 are projected to reach 14,468,200, a 14.8 percent decrease from 2019.

“December’s performance closes the year on multiple positive notes,” said Thomas King, president of the data and analytics division at J.D. Power.

“Retail sales are up; transaction prices are at record levels and retailer profits are at all-time highs. This reinforces that manufacturers and retailers are succeeding in getting vehicles built, shipped and sold in alignment with resilient consumer demand.

“Strong retail sales, combined with record transaction prices and low manufacturer discounts, is good news for manufacturer profitability.”

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Last modified on Monday, 04 January 2021 16:10