February car sales will see a slight rebound from January, but new vehicles sales will still remain low, S&P Global Mobility says.
With volume for the month projected at 1.22 million units, February U.S. auto sales are estimated to translate to an estimated 2024 sales pace of 15.5 million units.
This would be a step up from the 15 million unit pace of January, and reflective of the volatile nature of the current auto demand environment.
"While pricing, inventory and incentive trends are seemingly moving in the correct directions, respectively, to promote new vehicle sales growth, high interest rates and uncertain economic conditions continue to push against any consistent upshift for demand levels," says Chris Hopson, principal analyst at S&P Global Mobility.
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February 28, 2024 at 03:04AM
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S&P Sees February Auto Sales Bouncing Back From January - Barron's
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