US Vehicle Sales in Q1 Display Continued Demand Momentum

U.S. new vehicle sales is expected to have risen 5.6% year over year to 3.8 million units volume in the first quarter of 2024, per Cox Automotive. March's seasonally adjusted annual rate is anticipated to reach 15.5 million units, suggesting a 0.6 million increase from last year's reported figure.Per J.D. Power and GlobalData, in March, light-vehicle retail inventory reached 1.7 million, up 4.2% from February 2024 and 39% from March 2023. Total inventory surpassed 2.5 million for the first time since 2021. ...