March Car Sales Down, J. D. Power Report Says

March Car Sales Down, J. D. Power Report Says

Not surprisingly, major automakers saw retail sales drop in the first half of March compared with the same period a year ago, according to a report by research firm J.D. Power and Associates. The firm predicts total March sales will hit an annual selling rate of 15 million, dramatically lower than the 16.2 million rate of a year ago.

J.D. Power said in a report to its clients cited by Dow Jones that March saw year-over-year double-digit declines in retail car sales at General Motors, Ford and Chrysler. Toyota's sales also were off in the early weeks of the month.

J.D. Power recently reduced its 2008 car sales forecast to below 15 million, which would be the lowest level since 1994.

For the first two weeks of the month through March 16 compared with the year-ago period, J.D. Power said:

• GM’s retail sales were down 14.5 percent and total sales, including fleet sales, were off 8.5 percent
• Ford’s retail sales were 14.5 percent lower with total sales down 5.5 percent
• Chrysler’s retail sales fell 21.2 percent; with total sales down 11.9 percent
• Toyota’s retail sales dipped 5.3 percent with total sales down 4.6 percent
• Honda’s retail sales were off 1.2 percent, yet the firm predicts Honda sales will end March 2.4 percent higher
• BMW sales were higher in early March by 1.3 percent.

Michelle Krebs:  is Editor-in-Chief of AutoObserver.com. Follow @AutoObserver on Twitter.