According to Autodata Corp., new vehicle sales rose slightly last month compared to March 2014, reaching sales of 1,545,802 vehicles. Sales were up despite one less day and one fewer weekend in which to sell in 2015, compared to March 2014. Autodata Corp., also reported a seasonally adjusted annualized selling rate (SAAR) of 17.5 million in March 2015, up from 16.2 million in February.
Not only are sales expected to be strong but, according to J.D. Power, the average new vehicle transaction price in March is estimated to be $30,530—the highest ever for the month of March.
The combination of strong sales and high transaction prices may lead to a new record for consumer spending on new vehicles in the month of March. According to the Power Information Network (PIN) from J.D. Power, total spending may go as high as $37.7 billion.