The National Automobile Dealers Association (NADA) reported new light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. According to Patrick Manzi, NADA Chief Economist, the August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, […]
New Vehicle Retail Sales Were Lower Than Expected in July
According to NADA, the hoped for increase in new vehicle sales in July following missed sales from June’s cyberattack on dealer management systems did not boost sales above last year’s rate. According to the National Automobile Dealers Association (NADA) new light vehicle sales in July were down year-over-year. According to the NADA Market Beat report, […]
New Vehicles Sales Down in June on Impact of CDK Cyberattack
Sales were down both month-over-month and year-over-year. According to the National Automobile Dealers Association Market Beat report, new light-vehicle sales were down in June as the CDK Global cyberattack affected many dealers’ operations. Sales in June totaled a SAAR of 15.3 million units, down by 4.8% year over year and by 4% from May 2024. […]
Dealership Body Shop Sales Above Pre-Pandemic Levels in 2023
While dealership body shop sales increased, the percentage of dealers operating collision repair facilities continued to decline. According to the latest research from the National Automobile Dealers Association (NADA), the percentage of dealerships operating on-site body shops was down in 2023, the sixth year in a row of declines versus the previous year. NADA’s research […]
March Light Vehicle Sales Rate Up 3.8% in U.S. Compared to 2023
Sales rate up 7% for the full quarter. According to the National Automobile Dealers Association (NADA) Market Beat report, the March 2024 new light-vehicle sales seasonally adjusted annual rate (SAAR) was 15.5 million units—an increase of 3.8% compared with March 2023. March saw the highest raw sales volume for all of the first quarter 2024, […]
February New Vehicle Sales Exceed Expectations
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 […]
New Light Vehicle Sales Down Slightly in January Compared to Last Year
NADA reports new vehicle sales were down on both a month-over-month and year-over-year basis. Projects production to increase in 2024. New light-vehicle sales cooled at the start of 2024 according to the National Automobile Dealers Association (NADA) Market Beat report. The January 2024 seasonally adjusted annual rate (SAAR) of 15.0 million units represents a decline […]
NADA Reports New Light-Vehicle Sales Up in November Compared to Last Year
Sales rate, however, was down versus previous month. New light-vehicle sales in November 2023 totaled a seasonally adjusted annual rate (SAAR) of 15.3 million units, marking the second month of sequential month-over-month SAAR declines, according to the National Automobile Dealers Association (NADA). Yet despite the cooling SAARs of the past few months, November’s figure was […]
September Light Vehicle Sales Up Over 14% Compared to Last Year
According to NADA, September was the 13th straight month with year-over-year sales increases. New light-vehicle sales in September 2023 increased year-over-year for the 13th straight month according to the National Automobile Dealers Association Market Beat Report. September 2023’s seasonally adjusted annual rate (SAAR) of 15.7 million units represents an increase of 14.4% compared to September […]
Main Street Tax Certainty Act Introduced in U.S. House Seeks to Preserve Pass-Through Business Deductions
U.S. Congressman Lloyd Smucker (PA-11) introduced the Main Street Tax Certainty Act, H.R. 4721, legislation which would permanently extend Section 199A of the Internal Revenue Code, which is slated to expire in 2025. Smucker’s legislation is cosponsored by 92 Members and is supported by all Republican Members of the Ways & Means Committee. Section 199A, […]
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