Americans are finally tapping the brakes when it comes to buying new vehicles, according to analysis of first-quarter sales by J.D. Power and Associates.
The firm, which analyzed data from automakers and dealers in the first three months of year, estimates the annual sales rate during the first quarter was 16.7 million vehicles in the U.S.
"I think we're starting to see a slowdown," said Dave Habiger, CEO of J.D. Power."That said, the consumer remains strong." But J.D. Power says the end of"peak auto" doesn't mean sales and profits will plunge for automakers. In fact, its data shows the shift from less profitable cars to far more expensive SUV's and pickups. A transition that will help ease the impact of overall sales cooling off.
While retail sales of new vehicles fell in the first quarter, used auto sales at franchise auto dealers continued to climb, increasing 5.3 percent compared to the first three months of 2018.
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