U.S. February auto sales expected to remain steadyStaff Writer | February 25, 2017
ALG, the industry benchmark for determining the future resale value of a vehicle in the U.S., projects total new vehicle sales to reach 1,325,000 units in February, down 1.4 percent from a year ago.
Auto industry 1,325,000 units in February
Excluding fleet sales, U.S. retail deliveries of new cars and light trucks should remain flat with 1,039,299 units.
Incentive spending by automakers averaged an estimated $3,443 per vehicle in February, up 13.5 percent from a year ago, and down 0.8 percent from January 2017.
The University of Michigan’s Index of Consumer Sentiment is at 96.3 this month compared to 98.5 in January.
While slightly below last month, the Sentiment Index continues to signal the strength of a healthy U.S. economy.
The January unemployment rate came in at a nine year low of 4.8 percent in combination with a favorable average gas price of $2.29 recorded for this current week. ■