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You are here: Home / News / February New Vehicle Sales Exceed Expectations

February New Vehicle Sales Exceed Expectations

March 5, 2024 By CollisionWeek Editor

NADA reports sales up over 6% year-over-year.

According to the National Automobile Dealers Association (NADA) Market Beat report new light-vehicle sales for February 2024 exceeded expectations. According to NADA, February 2024’s seasonally adjusted annual rate (SAAR) totaled 15.8 million units, up 6.3% from February 2023 and up 6% from January 2024, which had seen a 10-month low.

More vehicles on dealer lots coupled with higher OEM incentives helped drive the sales increase.

The crossover segment continues to grow and remains the largest new-vehicle segment in the industry. Through February 2024, crossovers made up 49.9% of all new vehicles sold, up

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Filed Under: News Tagged With: Electric Vehicles, National Automobile Dealers Association, New Vehicles Sales

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