Average New-Vehicle Price Sets Another Record

The Retail Sales Forecast

New-vehicle retail sales for May 2022 are expected to decline when compared with May 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 1,013,700 units, a 20.9% decrease compared with May 2021 when adjusted for selling days. May 2022 has two fewer selling days compared to May 2021. Comparing the same sales volume without adjusting for the number of selling days translates to a decrease of 27.0% from 2021.

The Total Sales Forecast

Total new-vehicle sales for May 2022, including retail and non-retail transactions, are projected to reach 1,188,100 units, a 18.0% decrease from May 2021. Comparing the same sales volume without adjusting for the number of selling days translates to a decrease of 24.3% from 2021.

The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 13.6 million units, down 3.3 million units from 2021.

Read the full press release for additional key findings >