New light-vehicle sales in January 2025 totaled a SAAR of 15.6 million units, up 3.8% YoY and the fifth straight month with a YoY SAAR increase.

• January 2025’s sales pace was notably lower than December 2024’s 16.9 million unit SAAR.
• However, January is typically the slowest month for sales of the year and we believe there were significant sales pulled forward into December 2024 due to consumer uncertainty surrounding the availability of EV tax credits and potential impacts to vehicle pricing due to tariffs.