Total new vehicle sales for February 2023 were up 7.2% from last year.
One contributing factor to the rise is a 54% increase in fleet sales. Manufacturers have increased production for the segment, while retail availability remains low.
Prices maintain historically high levels with new vehicle prices up 4.8% year over year with an average of $46,229.
While all the above is happening, average interest rates have climbed around 2.5% from last year up to 6.78%.