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JD Power, LMC forecast 4.5 percent drop in Jan U.S. auto sales

Published 01/28/2016, 02:11 PM
Updated 01/28/2016, 02:20 PM
© Reuters. Vehicles are shown for sale at a local dealership in San Diego

DETROIT (Reuters) - January U.S. auto sales will fall 4.5 percent because of the recent snow storm on the East Coast and two fewer selling days than a year ago, JD Power and LMC Automotive said on Thursday.

The two industry consultants said that January U.S. sales will total 1.1 million vehicles, which translates into a seasonally adjusted annualized rate of 16.8 million vehicles.

They also forecast that 2016 U.S. auto sales will be 17.8 million vehicles, which would break the record set in 2015.

© Reuters. Vehicles are shown for sale at a local dealership in San Diego

Major automakers report U.S. sales next Tuesday.

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