News Brief
Auto Sales Recovering, But With A Glitch
Feb 25, 2010, 5:50 PM
J.D. Power & Associates says February new-vehicle retail sales are expected to increase marginally compared with February 2009. The firm's predictions are based on real-time transaction data over 8,900 U.S. franchisees.
The firm predicts February sales to be 561,500 units. The firm says fleet sales are rebounding from the lower levels one year ago, helping boost February sales by 8% from February 2009.
Jeff Schuster, executive director of global forecasting at J.D. Power and Associates, said that even though sales have improved versus last year, it reflects a bump in the recovery. "This hiccup appears to be the result of consumers waiting out the Toyota recalls and winter storms impacting showroom traffic, but the effects of these external factors are likely temporary and the recovery is expected to get back on track," he said, in a statement.--Karl Greenberg
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