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INDUSTRY INSIGHT

January New-Car Sales Down 3 Percent

Year-Over-Year Following Record 2016

Finish

BY KELLEY BLUE BOOK

New-vehicle sales are expected to decrease Incentive spending is a concern as it contin- including fleet, are expected to hit
3 percent year-over-year to a total of 1.13 ues to rise across the industry, and another 1,130,000 units, down 3 percent to Jan-
million units in January 2017, resulting in record in 2017 would likely require undis- uary 2016 and down 33 percent from
an estimated 17.4 million seasonally adjust- ciplined sales tactics driven by incentives, December 2016.
ed annual rate (SAAR), according to Kelley leasing and longer loan terms. Kelley Blue • The seasonally adjusted annual rate
Blue Book the vehicle valuation and infor- Book’s 2017 forecast calls for sales in the (SAAR) for January 2017 is estimat-
mation source. range of 16.8 to 17.3 million units, which ed to be 17.4 million, down from 17.8
would represent a 1 to 4 percent decrease million in January 2016 and down
“After a record December capped a new re- from 2016. from 18.3 million in December 2016.
cord year of vehicles sales in 2016, January • Retail sales are expected to account
figures appear to be enduring a hangover Key highlights for estimated January 2017 for 79.2 percent of volume in January
effect, potentially falling more than half a sales forecast: 2017, down from 79.9 percent in Jan-
million units from the previous month,” • In January, new light-vehicle sales, uary 2016. n
said Alec Gutierrez, senior analyst for Kel-
ley Blue Book.

“However, January is typically the weakest
month of the year for sales, as winter weath-
er sets in and consumers recover from big
spending over the holiday season. In addi-
tion, many potential sales were likely pulled
ahead into December as consumers opted
to take advantage of the ample inventory
and incentives available industry-wide.”

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40 | GIADA Independent Auto Dealer FEBRUARY 2017