The new vehicle retail sales pace in March is expected to rise from year-ago levels, according to a forecast developed jointly by J.D. Power and LMC Automotive. The seasonally adjusted annualized rate (SAAR) for retail sales is expected to be 13.4 million units, up 200,000 from a year ago. Retail sales are projected to reach 1,275,000 units, a 0.2 percent increase on a selling day adjusted basis compared with March 2017.
Higher new vehicle sales, which increases the percentage of vehicles with insurance coverage, coupled with increased travel, is helping to fuel growth of collision repair industry volume.
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