FOR IMMEDIATE RELEASE
Edmunds.com Forecasts March Auto Sales: Industry On Track to Sell 16.5 Million Units in 2007, Largely Thanks to Compact Cars
SANTA MONICA, Calif. — March 26, 2007 — This month's new vehicle sales (including fleet sales) are expected to be 1.48 million units, a 3.0 percent decrease from March 2006, according to Edmunds.com, the premier online resource for automotive information.
This March had 28 selling days, one more than March 2006. When adjusted for this difference, sales decreased 6.5 percent from March 2006. (The chart below sets forth other unadjusted and adjusted comparisons.)
|Change from March 2006 (Adjusted for more selling days)||Change from March 2006 (Unadjusted for more selling days)|
"This month, the industry faced debilitating winter storms, less compelling marketing messages and reduced fleet sales, so it is no surprise that year-over-year comparisons reflect a relative downturn," said Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "Nevertheless, I believe we are still on track for annual sales volumes of approximately 16.5 million vehicles, along the lines of what we saw in 2006."
More cars were sold in March 2006 than any other month last year, and Toprak predicts that this March may be one of the best months of 2007.
"Typically, the summer has been the strongest period for new car sales," commented Michelle Krebs of Edmunds' AutoObserver.com. "This may be shifting because new model introductions come earlier in the year than they used to, possibly sparking traffic to showrooms during historically quieter months."
Toprak also pointed out that the compact car segment — the industry's hottest — is expected to be up ten percent (unadjusted for selling days; up six percent adjusted) compared to March 2006.
The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 53.7 percent in March 2007, down from 56.5 percent in March2006 and down from 55.1 percent from February 2007.
Edmunds.com predicts Chrysler will sell 203,000 units in March 2007, down 6.2 percentcompared to March 2006. This would result in a new car market share of 13.7 percent for Chrysler in March 2007, down from 14.2 percent in March 2006 and down from 14.0 percent in February 2007.
Edmunds.com predicts Ford will sell 236,000 units in March 2007, down 17.2 percent compared to March 2006. This would result in a market share of 16.0 percent of new car sales in March 2007 for Ford, down from 18.7 percent in March 2006 and down from 16.4 percent in February 2007.
Edmunds.com predicts GM will sell 356,000 units in March 2007, down 1.3 percent compared to March 2006. GM's market share is expected to be 24.0 percent of new vehicle sales in March 2007, up from 23.6 percent in March 2006 and down from 24.7 percent in February 2007.
Edmunds.com predicts Honda will sell 133,000 units in March 2007, up 3.0 percent from March 2006. Its market share is expected to be 9.0 percent in March 2007, up from 8.4 percent in March 2006 and up from 8.8 percent in February 2007.
Edmunds.com predicts Nissan will sell 104,000 units in March 2007, up about 1.1 percent from March 2006. Nissan's market share is expected to be 7.0 percent in March 2007, up slightly from 6.8 percent in March 2006 and February 2007.
Edmunds.com predicts Toyota will sell 236,000 units in March 2007, up about 8.8 percent from March 2006. Toyota's market share is expected to be 16.0 percent in March 2007, up from 14.2 percent in March 2006 and up from 15.0 percent from February 2007.
About Edmunds Inc. (http://www.edmunds.com/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.