NADA Expects Positive Trends for 2021 Auto Sales

While the pandemic pushed auto sales down throughout 2020, the National Automobile Dealers Association (NADA) forecast a strong recovery in 2021.  Strong March sales prompted NADA to increase its 2021 forecast.

“Despite the challenges posed by production disruption and low inventory, we are very optimistic about new vehicle sales for all of 2021. Given the strong performance during the first quarter and our expectations for the rest of the year, we have increased our 2021 sales forecast to 16.3 units,” said Patrick Manzi, NADA Chief Economist, in a blog titled “NADA Market Beat: March New Light-Vehicle Auto Sales Incredibly Strong.”

First quarter sales support recovery predictions and show the overall sales are on par with quarter one in 2019.  Healthy sales volumes coupled with healthy transaction prices and profitability will persist as the industry shows strong resilience amid disruption.

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