First quarter spending on new vehicles at record levels.
New-vehicle retail sales for the month of March are expected to show growth over March 2020 and March 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 1,288,100 units, a 70.7% increase compared with March 2020, and an 9.2% increase compared with March 2019, when adjusted for selling days. March 2021 contains one more selling day than March 2020 and one fewer selling day—and one fewer selling weekend—than March 2019. Comparing the same sales volume without adjusting for the