(NEW YORK) — New vehicle sales are on pace to have their best April since 2005, according to a monthly forecast from J.D. Power and LMC Automotive released Thursday.
Nearly one-third of young car buyers, those 35 years old and under, are opting for longer financing deals of 72 months or more, said J.D. Power’s John Humphrey. The weather is cited as a contributing factor, with related issues decreasing demand in the first quarter of the year through March.
“People are out in dealerships more, so a lot of that demand that was somewhat suppresed due to weather has come back and benefited the April number,” Humphrey said.
Total light-vehicle sales in April are expected to reach 1.4 million units, a 4-percent increase from April 2013. The forecast for total light-vehicles for the year remains at 16.1 million units.
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Madison Park, Keith Allen and Andreas Preuss, CNN