NEW YORK— U.S. light-vehicle sales fell 13.9% year over year in March to an estimated 1.39 million units, though the decline was less severe on a selling day adjusted basis, down 10.5%, as March had one fewer selling days than a year earlier, according to GlobalData.
Analysts stated the report suggests demand remains resilient enough to support lending activity despite softer headline volumes, with the seasonally adjusted annual rate rising to 16.2 million from 15.6 million in February and the daily selling rate improving to 55,600 units from 49,200.
Retail sales, the segment most closely watched by auto lenders and credit unions, were estimated at 1.13 million units, down 16.2% from a year earlier, while fleet sales slipped just 2.3% to 258,000 units, GlobalData reported. GlobalData said the March decline was widely expected because March 2025 was inflated by consumers rushing to buy ahead of anticipated tariff-related price increases, making this year’s comparison unusually difficult.
At the manufacturer level, General Motors remained the top seller with 234,000 units and a 16.9% share, followed by Toyota Group at 212,000 units and a 15.2% share, while Hyundai Group narrowly edged Ford Group for third place after excluding Ford’s medium-heavy pickups — the first time Hyundai has topped Ford in monthly sales since July 2021, according to GlobalData. On the model side, the Honda CR-V led for a second straight month, followed by the Ford F-150, Chevrolet Silverado, Toyota Camry and Tesla Model Y, while the Toyota RAV4 remained constrained by inventory issues tied to its new generation rollout, GlobalData said.
GlobalData left its full-year 2026 forecast unchanged at 16.1 million units, which would represent a 1.4% decline from 2025, but warned that lenders should watch for downside risk tied to consumer confidence if Middle East tensions persist and gasoline prices remain elevated. The firm also said hybrids continue to gain traction as consumers seek fuel economy, while EV sales remained sharply lower year over year, a mix that could influence financing demand, affordability trends and vehicle collateral values across bank and credit union auto portfolios.