The retail automotive industry let out a collective cheer after reading the latest report from J.D. Power and GlobalData indicating that U.S. new vehicle retail sales are expected to rise 8.1% to 1.01 million units in February on an adjusted basis. Whoop! Finally, some good news!
The good news didn’t stop there. A strong retail sales pace, coupled with resiliently high average transaction prices, means that consumers will spend more money buying new vehicles in the month than any other February on record. Cue the celebration!
