According to a joint forecast released by J.D. Power and LMC Automotive, US new-vehicle retail sales in April 2021 are headed for the highest number ever recorded for that month.
The news will be some consolation to automakers, who have struggled with a semiconductor shortage. As a result of the shortage, General Motors, Ford, Stellantis, Honda and many others have had to idle production.
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New-vehicle retail sales set to hit record April
Despite the slowdown in output, US automotive sales surged in April.
According to a forecast released today by J.D. Power and LMC Automotive, new-vehicle retail sales in April are set to reach 1,325,500 units. Trucks and SUVs are expected to account for 76.1% of those sales.
That sales figure would mark a whopping 110.6% increase from April 2020 sales (when adjusted for selling days).
Meanwhile, the April sales forecast marked a 20.8% increase compared with April 2019 sales.
In addition, the automotive intelligence firms projected 1,479,800 units in total new sales. That would mark an increase of 107.1% from April 2020. When compared with April 2019, it is a 7.8% jump when adjusted for selling days.
The groups forecast the seasonally adjusted annualized rate (SAAR) for total new-vehicle sales to reach 18.1 million units. That would mark an increase of 9.4 million units from 2020 and 1.7 million units from 2019.