Ward's Forecasts Strong U.S. Light-Vehicle Sales in March Will Make First-Quarter Third Best Ever

SOUTHFIELD, Mich., March 8 -- U.S. light-vehicle sales will continue their strong pace in March, according to a forecast today by Ward's Communications, a PRIMEDIA company and the world's leading provider of auto industry information.

A key reason for the robust market, Ward's said, is that several major manufacturers are matching General Motors Corp.'s generous retail incentives. ``The generally better economic news also bodes well for auto sales, as do the pumped up North American vehicle production schedules for April and May in the face of still rising import penetration,'' said Haig Stoddard, Ward's manager of industry analysis.

The Ward's forecast, updated monthly for subscribers to WardsAuto.com, calls for March light-vehicle sales to reach a 16.56 million seasonally adjusted annual rate (SAAR), about matching February's 16.63 million, but a little below the 16.83 million of March 2001.

Actual unit volume is forecast at 1.53 million units, translating to a daily selling rate 1% below year-ago. The market's strength means first- quarter 2002 will end with a SAAR of 16.36 million, third best start for any year on record.

Ward's forecasts vehicle inventories will end March 1.8% below their Feb. 28 level, helping to explain why production schedules for second-quarter North American production are set 2.2% ahead of year-ago.