An estimated 1,356,250 new cars and trucks will be sold in the U.S. during October for an estimated Seasonally Adjusted Annual Rate (aka SAAR) of 17.8 million.
If accurate, total October sales will be a -5.2% decrease from September 2016, and a -6.8%decrease from October 2015. The 17.8 million SAAR, however, would be close to the highest single month sales rate in 2016.
Edmunds.com, the data source of the soothsaying, projects that 14,464,835 new cars and trucks will be sold this year in the U.S. through the end of October, down -0.2 % from the 14,500,744 sales recorded through the first 10 months of 2015’s record-breaking year.
“On the surface, it might look like a slow month for sales, but in fact the industry’s performance was much stronger than the raw numbers suggest,” claimed Edmunds.com Senior Analyst Jessica Caldwell. “Even with month-to-month and year-to-year sales decreases, a 17.8 million SAAR in October would tie for the highest monthly sales rate of 2016. And considering that there are no popular weekend sales events in October, automakers and dealers can feel encouraged by this month’s performance as they head into what they hope will be a busy holiday season.”
The biggest loser appears to be diesel-emission fraud enmeshed VW/Audi, dropping to 39,645 units or -17.6% year-over-year. Other big losers are Ford Motor and FCA – aka Chrysler – with more than -10% declines in an industry that is forecast to be off by -6.8% year-over-year. Other notable laggards include GM at 246,512 in wholesales or -6.3%, Toyota at 189,995 or -6.9%, and Honda -5% at 125,162.
