February Sales Down From 2016
Nationwide auto sales fell 1.1% from February 2016 to February 2017. The SAAR (Seasonally Adjusted Annual Sales) remained extremely high at 17.57 million cars.
A peak inside the numbers tell a more important story. Car sales actually dropped around 13%, while light duty truck sales increased 7%.
The scary thing for manufacturers is that inventories are rising and incentives spending is up (up 14% over last February according to ALG), but sales are still slipping. It will be interesting to see what manufacturers increase incentives to meet sales goals and which manufacturers dial back production to meet demand. As inventories keep rising, we'll find out soon!