S&P Global Mobility: March 2024 US auto sales reflect uneasy progress

S&P Global Mobility projects that US auto sales in March will crest over 1.4 million units – just the second time since May 2021 that monthly volume has reached this level.

SOUTHFIELD, Mich., March 26, 2024 /PRNewswire/ — With volume for the month projected at 1.47 million units, March 2024 U.S. auto sales are estimated to translate to an estimated sales pace of 15.8 million units (seasonally adjusted annual rate: SAAR). This would bring the SAAR average in the first quarter of the year to a level of 15.5 million units.  While progress from a year-ago reading of 15 million units, it would reflect a step down from the 15.7 million unit reading of the fourth quarter of 2023, reflective of the volatile nature of the current auto demand environment.