The US auto industry continues to roar ahead this year, with very positive industry wide sales and gains posted by virtually every major automaker – save for the crisis-laden Volkswagen.
New vehicle retail and overall sales in October are expected to come up with the best figures for the month since the start of the century, back in 2001. “September was a strong month — bolstered by the Labor Day weekend — so the expectation is that we would see some weakness is subsequent months, but that hasn’t been the case,” comments John Humphrey, senior vice president of the global automotive practice at J.D. Power. “Through the first 18 days in October, retail sales are up 7% compared with the same period a year ago.” Overall light-vehicle deliveries for the month are provisioned at almost 1.4 million autos, with a 4.4 percent surge from October 2014 on a selling-day adjusted basis. The seasonally adjusted selling rate for total annual sales in October is forecasted to reach 17.4 million units, jumping almost one million units from the SAAR registered last year during the same period.
Automakers will also benefit from this month having five weekends – instead of the usual four weekends for the traditional October and some predictions even go as far as to put the SAAR for the month at 17.8 million autos. While virtually all other carmakers will return positive sales for the October tally, a month after the dieselgate scandal engulfed Volkswagen, the German automaker has been found struggling to grow already feeble sales.