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Sprott Money Ltd.
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Click here for an Important Message for Customers

Important Message For Customers:

The Ontario Government has legislated that all non-essential businesses MUST BE closed BY 12:01 am on March 25. The health and safety of our employees, clients and our community is our top priority. To do our part in slowing the spread of COVID-19 we will temporarily close our administrative offices until further notice.

Furthermore, our carrier, UPS, has notified us that all shipments will not be insured and will not require a client’s signature upon delivery until further notice. Given the nature of our business, we are not willing to take that risk with your investments. As a result, we are temporarily suspending all shipments within Canada until UPS lifts these protocols.

Use e-mail for more expedient service.

Please be assured that your orders will be shipped to you as soon as we can. These are valuable investments you are making, and we want to make sure we send them in a safe, secured and insured manner. Should you have any questions or concerns, please reach out to us at 1-888-861-0775 or email us at sales@sprottmoney.com

Thanks for your patience and understanding in this difficult time.

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U.S. auto sales to rise 6.4% in February - J.D. Power, LMC Automotive

U.S. auto sales to rise 6.4% in February - J.D. Power, LMC Automotive
By Thomson Reuters 1 month ago 319 Views No comments

Feb 26 (Reuters) - U.S. auto sales are expected to rise about 6.4% in February from a year earlier, boosted by higher incentives and consumer spending, industry consultants J.D. Power and LMC Automotive said on Wednesday.

The consultancies expect total U.S. vehicle sales of about 1.32 million units in the month, while retail sales of new vehicles is estimated to rise 8.5% to 1.02 million units.

The auto consultants said incentive spending is on pace to reach $4,179 in February, an increase of $293 from last year, encouraging consumers to spend about $34.7 billion on new vehicles, up by $3.6 billion.

"While the coronavirus has had no meaningful effect on production yet, it does have the potential to reduce overall inventory levels and lower the need for continued elevated incentives," said Thomas King, senior vice president of the data and analytics division at J.D. Power.

However, if unhealthy inventory levels persist in 2020, manufacturers may be faced with spend levels that are pacing towards $5,000 by next year, King added.

"Uncertainty seems to be the buzz word for the auto industry right now, even if the causes change. While we expect the light vehicle market to decline further in 2020, the factors that play a part in that decline are numerous," said Jeff Schuster, President, Americas Operations and Global Vehicle Forecasts at LMC.

Schuster added that a slowing U.S. economy and higher transaction prices were already contributing to the headwinds.

J.D. Power and LMC Automotive said they expect total light-vehicle sales for 2020 to be 16.8 million units, a decline of 1.1% from 2019. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Devika Syamnath)

About Sprott Money

Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.


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