U.S. auto sales could surprise on the upside, Cox says
April U.S. auto sales are predicted to top a recent forecast, thanks to higher inventories and a “healthy dose” of fleet sales, which are sales to rental-car and other companies.
Cox... April U.S. auto sales are predicted to top a recent forecast, thanks to higher inventories and a “healthy dose” of fleet sales, which are sales to rental-car and other companies. Cox last week estimated April’s seasonally adjusted annual rate at about 15.1 million vehicles, which would be a jump over April 2022’s “supply-constrained” pace of 14.3 million sales, it said.April’s SAAR would also show improvement over March’s 14.8 million SAAR, showing resilience over rising interest rates, which translate into higher borrowing costs for car buyers.
GM and Tesla Inc. TSLA have moved to report quarterly sales and are not expected to update markets on their deliveries until early July. Ford is expected to report April sales within the next few days.
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