Ford Says Sales in the US Have Slowed in September From a Six-Year High in August image

Ford said that auto sales in the US have slowed in September after reaching a six-year high last month.

“The industry has slowed in September after a very, very strong Labor Day weekend, ” Joe Hinrichs, Ford’s president of the Americas, said today in an interview at the Texas State Fair in Dallas. “It’s still a healthy industry but it’s taking a little bit of a breather from the last three months.”

US vehicles sales in August reached a seasonally adjusted annualized rate of 16.1 million units, the highest level since October 2007, according to Autodata Corp. Automakers, among which Ford, have counted sales through September 3rd, in the August deliveries results.

LMC expects sales in the US to drop to 15.2 million units in September, Analysts at Deutsche Bank AG and CLSA Americas LLC predict sales will be around 15.3 million units and ,, RBC Capital Markets LLC, Barclays Plc and JPMorgan Chase & Co. expect deliveries to be around 15.4 million.

“At this stage, we don’t think the SAAR will be as strong as the last few months,” Hinrichs said. “It’s back-to-school time and again Labor Day was in August sales, so a little bit different year-over-year comparisons.”

Analysts forecast that sales might reach 16.1 million units in 2014, which would be with 500,000 more vehicles than automakers will probably sell this year.

Source: Bloomberg