AutoNation Inc. logged a 6-percent surge in new-vehicle retail sales in the United States in March to 28,796 units. It also logged a 4-percent rise in new-vehicle sales for the first quarter of 2014 to 70,217 units. AutonNation said in a statement that its retail sales in the luxury segment leaped 8 percent in March to 5,380 units, domestic-brand retail sales rising 9 percent to 9,233, and import-brand retail sales jumping 3 percent to 14,183.
The retailer’s same-store sales climbed 4 percent in March to 28,158 and 2 percent in the first quarter to 68,682 vehicles. Industrywide, light-vehicle sales in the US surged 6 percent to 1.5 million units in March, topping analysts’ forecasts and marking an end to sluggish sales start to 2014.
AutoNation chief executive Mike Jackson remarked in an interview on CNBC, that the harsh winter weather clearly impacted the entire US economy, but noted that the last 10 days of sales in March were “phenomenal.” He said that incentives have been offered on vehicles since build rate was expecting sales of 16 million units. He expects the US auto industry to breach the 16 million unit sales mark this year.