Experts: Strong vehicle sales predicted for February
Posted on Thursday, February 26, 2015 at 8:00:34 AM
New-vehicle sales have been a constant positive for the U.S. auto industry. According to a number of experts, the forecasts for February's totals remain just as strong as in months past.
According to Kelley Blue Book, sales are expected to tick up 8 percent on a yearly basis this month. Overall, that would mark nearly 1.3 million units sold in February. If these predictions hold, it would be exactly one year of monthly sales increases across the country.
"While consumer confidence fell month-over-month in February, it still remains high from last year," explained Alec Gutierrez, senior analyst for Kelley Blue Book. "Along with an unemployment rate that continues to drop and low interest rates, most signs remain very positive in the automotive market."
A similar prediction was made by TrueCar, which forecasted an 8.5 percent increase in new-vehicle sales for February. However, TrueCar did warn about the potential impact of the recent labor unrest among West Coast ports, which could have a ripple effect through the auto industry.
At the moment, though, TrueCar vice president of industry insights Eric Lyman pointed to consumer demand as a driving factor behind the strong sales.
For shoppers interested in auto financing and new vehicles, now is proving to be a good time to buy.