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February new car sales may outdo January

Posted On Sat, February 25, 2012

A report completed jointly between J.D. Power and Associates and LMC Automotive showed that new vehicle sales in January should be surpassed by February's sales.

A total of 857,000 retail new vehicles should be sold in February, according to the report. This is an increase of 5 percent year-over-year. This brings the figure to a seasonally adjusted annual rate of 12 million units, which is 1 million more than January's figures.

"Retail light-vehicle sales in February are strong, which makes us modestly optimistic about the growth of sales going forward," said John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates. "More so, we're increasingly confident that the fundamentals are in place to continue to support an upbeat sector outlook for the coming year."

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