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New-Vehicle Retail Sales Daily Selling Rate on Record Pace for January
Published
10 years agoon
By
Willie David
DETROIT, MI (FNN NEWS) — Despite heavy snows that hit the East Coast last weekend, an average of 36,499 new-vehicles are projected to be sold each day—known as the daily selling rate (DSR)—at dealerships in January, a record daily pace for retail sales for the month, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.
The seasonally adjusted annualized rate (SAAR1) for retail sales in January 2016 is expected to reach 13.9 million units, up from 13.8 million units in January 2015, and would be the strongest retail SAAR in the month of January since 2004 (13.9 million). Retail transactions are the most accurate measure of true underlying consumer demand for new vehicles.
Even with the brisk daily selling rate, new-vehicle retail sales on an absolute volume basis are expected to be down in January, due in large part to two fewer selling days compared with January 2015. New-vehicle retail sales in January are projected to reach 876,000 units, a 2.9% increase on a selling-day adjusted basis, but down from 922,055 in January 2015.
Retail Light-Vehicle Sales
Snow Storm Jonas has had a significant impact on car sales. During the storm-affected weekend (January 22-24), new-vehicle retail sales were down 30% in the eastern regions, compared with the same period a year ago. In contrast, sales in the western regions increased 5%.
“The snow storm on the East Coast disrupted an estimated 15,000 sales,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power. “Despite the storm, we’re still seeing a strong month. It’s also important to note that sales weren’t necessarily lost during the storm. We expect to see some of those sales made up this month, and the majority of them recovered in February.”
Humphrey noted that J.D. Power and LMC Automotive will continue to monitor the effects of Jonas on new-vehicle sales through the remainder of the month and in February.
Through the first 17 selling days of the month, the average transaction price of $30,769 is the highest level ever for any January, surpassing the previous high of $30,707 set in 2015.
Total Light-Vehicle Sales
Total light-vehicle sales are expected to reach 1,097,000, a 3.4% increase on a selling-day adjusted basis, compared with January 2015. The SAAR for total sales projected to reach 16.8 million units in January 2016, up from 16.7 million in a year ago and the highest rate since 2006.
J.D. Power and LMC Automotive U.S. Sales and SAAR Comparisons | |||
January 20161 | December 2015 | January 2015 | |
New-Vehicle Retail Sales | 876,000 units2 (2.9% higher than January 2015) | 1,371,607 units | 922,055 units |
Total Vehicle Sales | 1,097,000 units (3.4% higher than January 2015) | 1,640,370 units | 1,149,261 units |
Retail SAAR | 13.9 million units | 14.6 million units | 13.8 million units |
Total SAAR | 16.8 million units | 17.3 million units | 16.7 million units |
1Figures cited for January 2015 are forecasted based on the first 17 selling days of the month. | |||
2The percentage change is adjusted based on the number of selling days in the month (24 days in January 2016 vs. 26 days in January 2015). | |||
Fleet volume in January 2016 is projected to hit 221,100 units, a 5.4% increase on a selling-day adjusted basis from January 2015. Fleet share is expected to be 20% for January, the same level and volume as a year ago.
Sales Outlook
LMC Automotive’s forecast for 2016 remains 17.8 million units for total light-vehicle sales, but the outlook for retail light-vehicle sales was revised down 500,000 to 14.5 million units.
“We expect 2016 to be another record year, but all eyes will be tracking the expected slower growth rate as the year progresses,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive. “All brands will not be able to grow as they have over the past few years, creating a higher level of competitive intensity and pressure on each brand.”
North American Production
North American production in December 2015 was 1.256 million units, a 1.4% increase compared with December 2014. Production finished the year at 17.5 million units, a 3% increase. Inventory starts the year with a 61-day supply, down from a 65-day supply in December. LMC Automotive is maintaining its production forecast 2016 forecast at 18.1 million units, the first time volume in North America will cross the 18 million-unit level.
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Monster Jam World Finals® Returns to Orlando This Weekend, Celebrates Monster Jam’s 30th Anniversary
Published
4 years agoon
May 18, 2022
ORLANDO, Fla. (FNN SPORTS) – The prestigious Monster Jam World Finals® returns to Orlando May 21 and 22, 2022. This two-day championship is the biggest event of the season and showcases the best trucks and drivers in Racing, Freestyle, High Jump and Skills competitions. This year’s World Finals XXI celebrates Monster Jam’s 30th Anniversary and Grave Digger’s 40th Anniversary. It offers the largest Pit Party of the year, where fans can meet the drivers, see the trucks up close and enjoy many other family-friendly activities–all included in the ticket price. Fans can purchase tickets for both days through Ticketmaster.com.
Fans get to watch jaw-dropping stunts from the drivers’ 1,500 horsepower, 12-feet tall, 12,000-pound monster trucks, including 12-time world champion Tom Meents, driver of the Max-D truck. World record holder Bari Musawwir, driver of the Zombie truck, also returns to compete in the Skills Competition.
In just in 7.5 days, Camping World Stadium’s gridiron field transformed into the World Finals dirt track with 7,500 yards and 22.5 million pounds of dirt. This year’s track includes a first-ever figure-eight over-under track that allows trucks to simultaneously jump over each other while racing. Fans not only get to enjoy over-the-top stunts, and thrilling fireworks, but they’ll be the very ones choosing the winner.
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Mellissa Thomas is Editor for Florida National News. | mellissa.thomas@floridanationalnews.com
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Representative Duran’s HB 91 Passes in Tourism, Infrastructure, and Energy Subcommittee
Published
4 years agoon
February 3, 2022
TALLAHASSEE, Fla. – Source: Florida House of Representatives // Earlier today, HB 91 passed with unanimous bipartisan support in the Tourism, Infrastructure, and Energy Subcommittee. HB 91 provides DHSMV authority relating to the display & use of digital license plates and specifies requirements for digital license plates, digital license plate providers, & digital license plate consumers.
“Bringing digital license plates to Florida helps to pave the way into a more connected future. Florida has always been on the cutting-edge of technology and allowing the use of this technology can bring large-scale efficiency and savings to the over 17 million registered vehicles in our state. I am happy this bill was able to make it out of committee and is on its way to becoming law,” said Representative Nicholas X. Duran (D- Miami).
Having passed favorably, the bill has been referred to the Commerce Committee.
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Tesla on Part-Automated Drive System Slams into Police Car
Published
5 years agoon
August 28, 2021
ORLANDO, Florida (AP) — A Tesla using its partially automated driving system slammed into a Florida Highway Patrol cruiser Saturday on an interstate near downtown Orlando and narrowly missed its driver, who had pulled over to assist a disabled vehicle.
Earlier this month, the U.S. government opened a formal investigation into Tesla’s Autopilot driving system after a series of similar collisions with parked emergency vehicles.
The trooper whose cruiser was hit shortly before 5 a.m. Saturday had activated his emergency lights and was on the way to the disabled vehicle when the Tesla hit the cruiser’s left side and then collided with the other vehicle, highway patrol spokeswoman Lt. Kim Montes told The Orlando Sentinel.
The report said the 27-year-old man in the Tesla and the driver of the disabled vehicle suffered minor injuries and the trooper was unhurt.
Tesla did not immediately respond to an email sent to its press address.
Autopilot has frequently been misused by Tesla drivers, who have been caught driving drunk or even riding in the back seat while a car rolled down a California highway.
The electric vehicle maker uses a camera-based system, a lot of computing power, and sometimes radar to spot obstacles, determine what they are, and then decide what the vehicles should do. But researchers say it has had trouble with parked emergency vehicles and perpendicular trucks in its path.
The National Highway Traffic Safety Administration opened the Tesla probe after tallying 11 crashes since 2018 in which Teslas on autopilot or cruise control have hit vehicles where first responders have used flashing lights, flares, an illuminated arrow board or cones warning of hazards.
In those crashes, 17 people were injured and one was killed, the NHTSA said. An investigation could lead to a recall or other enforcement action.
The National Transportation Safety Board, which also has investigated Tesla crashes, has recommended that NHTSA and Tesla limit the autopilot’s use to areas where it can safely operate. It also recommended that Tesla be required to improve its system to ensure drivers pay attention.
Last year the NTSB blamed Tesla, drivers and lax regulation by NHTSA for two collisions in which Teslas crashed beneath crossing tractor-trailers.
The crashes into emergency vehicles cited by NHTSA began on Jan. 22, 2018, in Culver City, California, near Los Angeles when a Tesla using autopilot struck a parked firetruck with flashing lights. No one was injured in that accident.
