Cox Automotive forecasts sales up month-over-month and year-over-year.
February new-vehicle sales, when announced next week, are expected to show gains over last year and improvement from January, which came in slower than expected. Cox Automotive projects February sales volume is expected to reach 1.22 million units, an increase of 6.3% over February 2023, when the market was still recovering from severe product shortages.
The seasonally adjusted annual rate (SAAR), or selling pace, is expected to finish near 15.4 million, up 0.5 million over last year’s pace and an improvement over January’s surprisingly low 15.0 million level. The SAAR has averaged
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