
NADA Market Beat
Produced by NADA's Industry Analysis division, NADA Market Beat is a monthly report on U.S. new light vehicle sales; it replaces the NADA Monthly Sales Recap.
NADA Market Beat: April 2023 New Light-Vehicle SAAR Increases 11.4% Compared to April 2022
New light-vehicle sales in April 2023 rose significantly year-over-year.

New light-vehicle sales in April 2023 rose significantly year-over-year. The 15.9 million unit SAAR for April 2023 represents an increase of 11.4% compared with a 14.3 million SAAR for April 2022. Increased vehicle availability, which alleviated some consumer and fleet pent-up demand, helped fuel the sales rise. According to Wards Intelligence, fleet sales are forecast to account for 16% of April 2023 sales.
An increasing number of new-vehicle incentives also contributed to the April sales gains. According to J.D. Power, average incentive spending per unit in April is expected to total $1,599, an increase of 58.9% compared with April 2022. While average incentive spending has risen from rock-bottom lows, it has not increased equally for all OEMs. Some OEMs have been able to substantially boost new-vehicle supply, but others are still struggling with vehicle production. Those OEMs with more supply will be better able to offer incentives, and some may even participate in Memorial Day discounting later this month.
Average interest rates and transaction prices remain high and continue to keep new-vehicle monthly payments elevated. According to J.D. Power, the average interest rate on a new-vehicle finance contract in April 2023 is expected to be $729, an increase of $48 year-over-year. The average interest rate on a new-vehicle finance contract should reach 6.8% in April 2023, or 227 basis points higher compared with April 2022. Interest rates will likely climb a bit more, as the Fed is expected to increase rates at its meeting this week.
Looking ahead to the rest of the year, we expect continued sales improvement driven by greater vehicle availability as more OEMs move past the chip shortage. Our forecast for 2023 is 14.6 million units.
2023
April NADA Market Beat: April 2023 New Light-Vehicle SAAR Increases 11.4% Compared to April 2022 February NADA Market Beat: New Light-Vehicle SAAR Up Year-Over-Year for Seventh Straight Month January NADA Market Beat: January 2023 SAAR Hits 15.7 Million Units2022 Archives
December NADA Market Beat: 2022 New Light-Vehicle Sales top 13.7 Million Units November NADA Market Beat: November 2022 New Light-Vehicle Sales Up YOY; Down Slightly from Month Prior October October New Light-Vehicle Sales Up Nearly 10% from September September NADA Market Beat: September 2022 New Light-Vehicle Sales Up 9.6% August NADA Market Beat: August 2022 New Light-Vehicle SAAR Up 0.7% Year-Over-Year July NADA Market Beat: New-Light Vehicle Sales Increased Slightly Month-Over-Month June NADA Market Beat: June New Light-Vehicle Sales Up Slightly from May 2022 But Down Year-Over-Year May New Light-Vehicle Sales Down 12.6% Month-Over-Month April NADA Market Beat: April New Light-Vehicle Sales Up Slightly from March March NADA Market Beat: Supply Chain Disruptions Suppress New Light-Vehicle Sales February NADA Market Beat: February New Light-Vehicle Sales Weakened Compared to January January NADA Market Beat: January 2022 New Light-Vehicle SAAR Reaches 7 Month High2021 Archives
December NADA Market Beat: 2021 New Light-Vehicle Sales Up 3.1% over 2020 November NADA Market Beat: Limited Vehicle Availability Continues to Impact Sales Despite Slight Inventory Increases in November October NADA Market Beat: First Monthly New Light-Vehicle Sales Gain Since April September NADA Market Beat: Limited Inventory Drives SAAR of 12.2 Million Units for September Sales August NADA Market Beat: New Vehicle Sales Decline Amid Inventory Constraints July NADA Market Beat: Inventory Continues to Impact New-Vehicle Sales June NADA Market Beat: Inventory Constraints Limit New-Car Sales April NADA Market Beat: New Light Vehicle-Sales Top 18 Million Unit SAAR for Second Straight Month March NADA Market Beat: March New Light-Vehicle Auto Sales Incredibly Strong February NADA Market Beat: New Light-Vehicle Sales Fall Slightly in February January NADA Market Beat: Light-Vehicle Sales Start Strong in January 20212020 Archives
December NADA Market Beat: 2020 Light-Vehicle Sales Reach 14.46 Million Units November NADA Market Beat: New-Vehicle Sales Down Slightly Compared to Previous Two Months October NADA Market Beat: New-Vehicle Sales Top 16 Million Unit SAAR for Second Straight Month September NADA Market Beat: New Light-Vehicle Sales Up for Fifth Consecutive Month August NADA Market Beat: New Light-Vehicle Sales Continue to Recover July NADA Market Beat: July Vehicle Sales Improve for Third Consecutive Month June NADA Market Beat: June Vehicle Sales Increased to 13 Million SAAR May NADA Market Beat: May Sales Show Signs of Recovery April NADA Market Beat: April 2020 SAAR Falls to 8.6 Million Units March NADA Market Beat: Light Vehicle Sales Down 34.1% in March Due to COVID-19 February NADA Market Beat: U.S. New Vehicle Sales Up 1.9% Year-Over-Year January NADA Market Beat: Light Trucks Represent 75% of All Light Vehicles Sold2019 Archives
December NADA Market Beat: 2019 U.S. New Vehicle Sales Mark 5th Year Over 17 Million Units November NADA Market Beat: U.S. New Vehicle Sales Down 1.5% Year-to-Date October NADA Market Beat: U.S. New Vehicle Sales Down 1.5% Year-to-Date September NADA Market Beat: U.S. New Vehicle Sales Down 1% Year-to-Date August NADA Market Beat: U.S. New Vehicle Sales Down 1.1% Year-to-Date July NADA Market Beat: U.S. New Vehicle Sales Down 1.4% Year-to-Date June NADA Market Beat: U.S. New Vehicle Sales Down 1.2% Year-to-Date May NADA Market Beat: Despite a Solid May Sales Performance, U.S. Light-Vehicle Sales Down 1.8% Year-to-Date April NADA Market Beat: U.S. Light-Vehicle Sales Down 4.5% March NADA Market Beat: U.S. Light-Vehicle Sales Down 0.9% February NADA Market Beat: U.S. Light-Vehicle Sales Down 2.5% January NADA Market Beat: U.S. Light-Vehicle Sales Down 3%Related
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