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The third quarter of 2022 closed with a new light-vehicle sales totaling a quarterly average SAAR of 13.3 million units, down slightly from a SAAR of 13.4 million units during the second quarter of the year.
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New light-vehicle sales in September 2022 totaled a SAAR of 13.5 million units, up 9.6% from a year ago.
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The first quarter of 2022 came to a close with new-light vehicle sales in March totaling a SAAR of 13.4 million units, a decline of 4.6% compared to February 2022 and a decline of 24.4% compared to March 2021’s SAAR.
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The month’s SAAR totaled 13.3 million units, down from 14 million in February and off 24.4% from March 2021’s SAAR of 17.6 million units.
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Recent media coverage about rising new-vehicle prices fails to account for unprecedented market conditions in the retail auto market.
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New light-vehicle sales in October 2021 saw their first month-to-month gain since April.
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NADA predicts healthy sales volumes coupled with healthy transaction prices and profitability will persist as the industry shows strong resilience amid disruption.
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On October 20, the National Automobile Dealers Association (NADA) made several leadership announcements for 2021.
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August’s SAAR of 15.2 million units marked a 4.8% increase from July’s SAAR of 14.5 million units but is down 11% compared with August 2019.
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The Department of the Treasury issued guidance on the Aug. 8, 2020 Presidential Executive Order that defers an employer’s obligation to withhold, deposit, and pay the employee’s portion of the payroll tax on wages earned between Sept. 1, 2020 and Dec. 31, 2020.
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