New Car Sales improve as Consumers look to buy Fuel Efficient Vehicles

Going up Blocks - BSN

(Best Syndication News) - New car sales is projected to reach 1,425,000 million vehicles sold in March 2012 (14.6 million seasonally adjusted), which is a 24 percent increase from the previous month’s Kelley Blue Book data and up 14 percent from March 2011.

Gas prices are pushing consumers to buy fuel efficient vehicles suggested Kelley Blue Book. The national average for fuel is hovering around $3.80 per gallon, with California averaging $4.40 per gallon. The Kelley Blue Book conducted a survey in Q4 2011, and found that many consumers wanted more choices in smaller fuel-efficient vehicles, which might be why there are more sales because there are now more available.

Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book said in a statement, "Although we anticipate strong sales in March, it will fall short of the 15.1 million SAAR posted last month. Sales in February were aided by unseasonably warm weather across the United States and an additional selling day due to the Leap Year, triggering a strong seasonally adjusted sales rate that will not likely repeat this year. Conditions in the economy have generally been positive through the first few months of the year, and if conditions remain steady, the industry can expect to see continued strength in sales for the months ahead. Rising fuel prices could slow down the current momentum in sales growth if left unchecked, so this will be a key factor to monitor moving forward."

By: Dave Reddy

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