Cox Automotive February 2021 Forecast: U.S. Auto Sales Remain Relatively Strong Despite Challenges
ATLANTA, Feb. 23, 2021 February sales when reported next week are expected to show a relatively strong vehicle market in the U.S., though slowing from January s robust post-holidays pace. The seasonally adjusted annual rate (SAAR) of sales this month is forecast by Cox Automotive to be near 16.3 million, down from January s 16.6 million level and below last year s 16.8 million. However, given ongoing pandemic turmoil and related job losses, coupled with the big freeze in Texas, results could have been much worse.
February is normally one of the slowest sales months in a given year, as many consumers pull back in spending following the year-end shopping season, and adverse winter weather often suppresses vehicle shopping in many parts of the country. This year, weather will play a bigger-than-normal role, as the deep freeze that impacted markets as far south as Houston disrupted mi