February's retail sales are projected to be 946,600 units, while the seasonally adjusted annualized rate (SAAR) for retail sales is projected at 12.6 million units, a decrease of 0.3 million from last year.
"The year is off to its slowest start since 2014 with the industry set to post sales declines again in February," Thomas King, senior vice president of the Data and Analytics Division at J.D. Power, said. "While retail sales through the first two months will be down more than 4 percent, it's important to note that January and February are among the lowest-volume sales months of the year."
February 2019 projections also predict consumers are on pace to spend $31.5 billion on new vehicles for the month, a $300 million growth over last year's level.
J.D. Power and LMC Automotive U.S. Sales and SAAR Comparisons
|February 20191||January 2019||February 2018|
(-2.4% lower than February
|832,346 units||969,451 units|
(-0.9% lower than February
|1,126,432 units||1,299,358 units|
|Retail SAAR||12.6 million units||12.8 million units||12.9 million units|
|Total SAAR||16.8 million units||16.6 million units||17.0 million units|
1Figures cited for February 2019 are forecasted based on the first 14 selling days of the month.
2February 2019 has 24 selling days, the same as February 2018.
See full forecast details here.