March vehicle sales are expected to reach their highest level since 2007, according to new projections from TrueCar.com released today. The site projects seasonally adjusted annual sales of 14.5 million, up from 13.1 million in March of 2011. In addition, companies decreased their customer incentives on a year-over-year and month-over-month basis in March, meaning automakers sold more cars closer to full-price, according to TrueCar.com.
ÂWe are looking at a record breaking month for many manufacturers in March with Hyundai, Nissan (NSANY) and Volkswagen expected to have their highest unit sales ever in the U.S.,Â said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com. ÂWe also forecast that Chrysler, Ford (F), General Motors (GM), Honda (HMC) and Toyota (TM) will have an extremely strong month, with some of the highest unit sales in years. Due to stronger than expected recovery, weÂve increased our sales forecast another 3.6%, from 14.0 million unit sales to 14.5 million unit sales in 2012.”
Chrysler, Ford and GM are expected to post 31.2%, 1.4% and 20.9% growth respectively.