Auto buying activity predicted to surge in April
Posted on Monday, April 28, 2014 at 9:54:10 AM
Buyers seeking affordable auto financing and their next new vehicle are likely to be extremely active over the coming months, thanks to improved economic conditions and better weather.
According to Cars.com, total April sales are expected to reach more than 1.4 million, which would represent a 10 percent yearly increase. If those numbers are achieved, the seasonally adjusted annual rate for the month would be the highest experienced since 2006.
"The turbo switch finally flipped in April with new-vehicle sales expected to post a healthy 10 percent increase over 2013 after a virtually flat first quarter," said Jesse Toprak, chief analyst at Cars.com. "Car shoppers thawed out after one of the worst winters in history, and showroom traffic was strong once again. Demand for new cars was fueled by low interest rates, very attractive lease specials, and perhaps the best selection of models consumers have ever seen - across all brands."
In addition, Kelley Blue Book reported that Nissan is one manufacturer that is expected to have performed well once April's numbers have been released. Other strong results are predicted for General Motors, Ford, Toyota and Chrysler. Full-sized pickup trucks are one vehicle type that has been the focus of many auto buyers this spring.