2014 sales to start on high note

The good times are expected to keep on rolling with J.D. Power and LMC Automotive calling for a strong month of January sales.

Following a mostly positive 2013, a sales forecast created jointly by J.D. Power and LMC Automotive predicts that January retail sales will inch up 3 percent to 847,400 units. That forecast nets a seasonally adjusted annualized rate, or SAAR, of 13.1 million retail sales, up 400,000 units over December and 300,000 units over January 2013.

Moreover, those sales are expected to be profitable. Average retail prices in January are on pace to exceed $29,500, marking a $300 improvement over the average price in January 2013.

“We are forecasting January 2014 to have the strongest level of retail sales for a January since 2004, and transaction prices will be the highest on record for the month of January,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power. “In combination, the strong sales rate and record transaction prices are expected to result in record levels of consumer spending for the sector.”

The compact CUV segment is shaping up to be one of the hottest of 2014. Early estimates suggest compact utility vehicles will account for 16.3 percent of January retails sales, up 3.5 points from the same period last year.

Total light vehicle sales, which includes fleet deliveries, should be about 1.1 million, or 1 percent better than last year. The overall market SAAR should be around 15.3 million in January.

LMC Automotive predicts automakers will sell 16.2 million vehicles in the United States this year, up from 15.6 million units last year.

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