October Auto Sales Expected to Show Increase

Despite the gov­ern­ment shut­down, and pre­dic­tions to the con­trary, Kel­ley Blue Book pre­dicts that Octo­ber auto sales will increase almost 12 per­cent.

Get the details on the fore­cast for Octo­ber auto sales as the month draws to an end.

New vehi­cle sales are expect­ed to improve 11.7 per­cent in Octo­ber to a total of 1.22 mil­lion units, accord­ing to Kel­ley Blue Book www.kbb.com, the lead­ing provider of new and used car infor­ma­tion. Fol­low­ing the first year-over-year decline in 27 months in Sep­tem­ber, new-car sales should begin to bounce back in Octo­ber, despite the fed­er­al government’s shut­down ear­li­er in the month. Help­ing sales, this Octo­ber has one more sell­ing day than last year, and in 2012, num­bers were heav­i­ly affect­ed by Hur­ri­cane Sandy’s impact on the East Coast. Bar­ring anoth­er eco­nom­ic set­back, indus­try sales remain on track to reach about 15.6 mil­lion units in 2013.

Key High­lights for Esti­mat­ed Octo­ber 2013 Sales Fore­cast:

  • In Octo­ber, new light-vehi­cle sales, includ­ing fleet, are expect­ed to hit 1,220,000 units, up 11.7 per­cent from Octo­ber 2012 and up 7.4 per­cent from Sep­tem­ber 2013.
  • The sea­son­al­ly adjust­ed annu­al rate (SAAR) for Octo­ber 2013 is esti­mat­ed to be 15.4 mil­lion, up from 14.3 mil­lion in Octo­ber 2012 and up from 15.2 mil­lion in Sep­tem­ber 2013.
  • Retail sales are expect­ed to account for 84 per­cent of sales in Octo­ber 2013.

Most man­u­fac­tur­ers will enjoy healthy sales growth in Octo­ber. Toy­ota, whose Cam­ry and all-new Corol­la topped the mid-size and com­pact car seg­ments last month, could post the great­est improve­ment from last year at 15.9 per­cent.

Ford also is expect­ed to report excel­lent sales results this month, dri­ven large­ly by the demand for their F-Series as well as the recent­ly redesigned Fusion and Escape. Chrysler, Hon­da and Nis­san also are expect­ed to post dou­ble-dig­it gains, large­ly on the heels of new redesigns and intro­duc­tions such as the Jeep Chero­kee, Hon­da Accord and Nis­san Alti­ma.

“The gov­ern­ment shut­down didn’t impact con­sumers grow­ing appetite for buy­ing new vehi­cles,” said Alec Gutier­rez, senior ana­lyst for Kel­ley Blue Book. “The expec­ta­tions were that car buy­ers would wait on the side­lines, but because of pent-up demand and cred­it avail­abil­i­ty, car sales are expect­ed to increase 7 per­cent from last month.”

 

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