Annual outlook upgraded.
New vehicle sales started 2021 on a strong note, with 1.09 million Light Vehicles sold in the US, down by 3.1% year-on-year (YoY), according to actual results in an analysis from LMC Automotive. However, despite one fewer selling day, the daily average volume grew by 1.0%, to 45,542 units. This translates into a strong annualized rate of 16.6 million units, the highest level since the pandemic started impacting sales in March 2020. The January rate was 200,000 units higher than the very strong selling rate in December.
January’s robust performance transpired even as the economic effects of