Lean inventories continue to depress new vehicle sales.
U.S. Light Vehicle sales in April reached their highest level so far this year, according to LMC Automotive, the automotive forecasting and market intelligence company, that is now part of GlobalData. The 1.26 million units sold represent a 17% year-on-year (YoY) decline, but volumes were up by about 5,000 units from March. The annualized rate grew to 14.7 million units, about 1.3 million units more than in March.
April had the same 27 selling days as March, but it is traditionally a weaker month. Yet, slightly better inventory levels and some recovery