#NEW CAR SALES STRONG

Latest News New Vehicle Sales Remain Strong New-vehicle sales remain strong in March, as both the light-vehicle retail selling rate and the total light-vehicle rate are consistent with February's performance at 12.1 million units and 15.3 million units, respectively, according to a monthly sales forecast developed by J.D. Power and Associates' Power Information Network (PIN) and LMC Automotive. March new-vehicle retail sales are expected to come in at 1,158,000 vehicles, which represent a seasonally adjusted annualized rate (SAAR) of 12.1 million units, with volume approaching a double-digit increase from March 2012. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles. The average new-vehicle customer-facing retail transaction price ($28,504) is up 3 percent from March 2012. Leases account for 23.1 percent of new-vehicle retail transactions in March 2013, up from 20.0 percent in March 2012. In addition, the percentage of retail sales with a 72-month or longer loan is at record levels, reaching 32.1 percent in March 2013, an increase from 30.4 percent in March 2012. Total light-vehicle sales in March 2013 are projected to reach 1,465,100 units, an 8 percent increase from March 2012, with a selling rate that is consistent with the expected performance for the year. Fleet share is expected to hold at 21 percent. The outlook for 2013 remains strong and consistent with the pace expected to be set in the first quarter. LMC Automotive is holding its 2013 U.S. forecast for total light-vehicle sales at 15.3 million units and the retail light-vehicle forecast at 12.5 million units.