After February sales rose to a 15.8-million-unit seasonally adjusted annual rate from January’s 10-month-low 15.0 million, the initial outlook for March is a SAAR of 15.9 million, which would put Q1-2024 at 15.6 million. However, with automakers getting more aggressive with incentives, and some looking to control rising inventory, there is upside to the March outlook.
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February U.S. Light-Vehicle Inventory Up 4% from January, Boding Well for Sales in March
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The Analyst Team
Haig Stoddard
Follow AnalystPrincipal Analyst, Forecast & Markets
Haig has followed the auto industry for over three decades, starting as a reporter and editor for Wards Automotive Reports, then transitioning to an automotive market analyst. He analyzes market trends related to new-vehicle demand, production, and powertrain take-rates, and forecasts vehicle connectivity and automation levels
Haig focuses on tying together demand, vehicle production, and powertrain trends. He also has created and co-created several of the company’s current analytical outputs related to forecasts, plant capacities, product cycle plans, market segmentation, and future vehicle propulsion reports. Currently, he supports the Wards Intelligence database and produces regularly scheduled and custom subscription-based posts tied to North American production, sales analysis, forecasts, and general global market analysis. He also is working on projects to help expand the company’s coverage of future trends by creating vehicle-based forecasts related to factory-installed equipment, such as ADAS and mobility.
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