Sales of new vehicles in the United States are expected to go up in March, riding on pent-up demand for cars and trucks, a report from industry consultants J.D. Power-LMC Automotive showed on Thursday.
Total new-vehicle sales for the month, including retail and non-retail transactions, are projected to reach 1.33 million units, a 6.2 percent increase from March 2022, according to the report.
A preference for personal transport has powered the auto industry’s sales over the past year but there have been some indications of late that demand may be losing steam.
General Motors Co. last month said it would idle an Indiana assembly plant that builds Chevrolet Silverado and GMC Sierra pickup trucks for two weeks starting March 27 to maintain “optimal inventory levels” at its dealerships….