Analysts say that new vehicle sales pace in September in the US will be slower than past months due to the absence of Labor Day from this month’s tallies and fewer selling days.
LMC Automotive and JD Power predict that new-vehicle retail sales this month will reach 933,400 units, a drop of 2% from the same period last year. The SAAR in September is seen reaching 12.4 million vehicles.
“Although the year-over-year sales gain in September is smaller than has been observed in recent months, it’s important to recognize that September reported sales are being heavily influenced by a quirk on the industry sales calendar,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power.
The auto industry report is based in a sales month and not on a calendar month basis. This year the Labor Day holiday has fallen in the August sales month and not on the September sales month as it did in the past. This means that all vehicle sales in the Labor Day weekend have been counted to August sales, which is 248,000 vehicles.
Light-vehicle sales are expected to increase 4% , thanks to the fleet share which is to return to 18% from 11% in August. Fleet volume is predicted to reach 200,000 units and account for less than 18% of the market this year.