Winter Weather Freezes January Auto Sales, but Shoppers Can Warm up to Available Deals, Says Edmunds.com
SANTA MONICA, Calif. — January 30, 2014 — The relentless blast of winter weather likely kept car shoppers away from dealerships in January, says Edmunds.com, the premier destination for car shopping. Edmunds.com forecasts that 1,036,533 new cars and trucks will be sold in the U.S. in January for an estimated Seasonally Adjusted Annual Rate (SAAR) of 15.6 million. The projected sales will be a 23.6 percent decrease from December 2013, and a 0.6 percent decrease from January 2013.
January's weather complications mean that sales will likely be made up in February. Fortunately, says Edmunds.com, car shoppers will find a friendly buying environment to make their big purchases.
"Even though 2013 year-end sales events have long passed, market conditions remain quite favorable for buyers," says Edmunds.com Chief Economist Lacey Plache, PhD. "In particular, interest rates, monthly lease payments, and trade-in values are all at some of the best levels expected for the foreseeable future."
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Edmunds.com's Deals of the Month page identifies some of the strongest deals available right now, including $1,500 off a 2013 Hyundai Elantra and 0% financing for 60 months on a 2014 Chrysler Town and Country minivan.
Dr. Plache cautions, however, that those strong buying conditions are bound to weaken. Auto loan rates, for example, are likely to rise in the near future, and trade-in values will likely soften as used car inventories grow. Dr. Plache sheds more light on today's car shopping market at http://www.edmunds.com/industry-center/commentary/car-shoppers-find-appealing-deals-even-after-holiday-sales-events.html.
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Edmunds.com estimates that retail SAAR will come in at 12.9 million vehicles in January, with fleet transactions accounting for 17.3 percent of total sales. An estimated 2.89 million used cars will be sold in January, for a SAAR of 35.3 million (compared to 2.41 million — or a SAAR of 35.2 million — used car sales in December).
More insight into recent auto industry trends can be found in Edmunds.com's Industry Center at http://www.edmunds.com/industry-center/.
About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site driven to make car buying easy. Almost 18 million visitors use our shopping tools every month to connect with over 9,500 dealer franchises across the U.S. Shoppers can browse our inventory listings for available cars and trucks, and with Edmunds.com's Price PromiseSM, they can get an instant, upfront price on those same vehicles. Recently named by Maritz Research as one of the most trusted online consumer review sites - and the only automotive site listed in the top ten - Edmunds.com is also home to comprehensive car reviews, shopping tips, photos, videos and feature stories. Even when you're at the dealership, we're always by your side. Just call our free Live Advice Line at 1-855-782-4711 or use our acclaimed Edmunds.com iPhone and iPad apps or Edmunds.com Android App. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook. You can also find us on Instagram, Google+, Pinterest, LinkedIn and Flipboard.