Regardless of the type of auto in the market today, anyone of them will get hit by the economic problems plaguing the world today. Retail new-vehicle sales during the first 17 selling days of March were down by 40 percent compared with the same period one year ago, according to J.D. Power and Associates, which gathers real-time transaction data from more than 10,000 dealerships across the United States.
New-vehicle retail sales for the entire month of March are projected to come in at 633,000 units, compared with 1.07 million units a year ago. Retail sales in February totaled 557,000 units. To better reflect consumer demand for new vehicles, J.D. Power and Associates focuses on retail sales, which include only dealership sales and leases to private parties and does not include fleet sales.
The crossover utility vehicle (CUV) segment is generating the greatest year-over-year segment share growth, up by three percentage points since March 2008. In contrast, the traditional utility vehicle, compact car and midsize car segments are generating the greatest year-over-year declines in segment share. A proliferation of new CUV models has been introduced to capitalize on this shift in consumer demand. A total of nine new models have been introduced since February 2008.
(Source) Press
Tags: compact car, Crossover, economic problems, j d power and associates, midsize car, new vehicles, plunge, private parties, retail sales, time transaction
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