September U.S. auto sales are expected to come in about 10% higher than a year ago, according to four analysts’ estimates, with no sign of a typical post-Labor Day slowdown.
Automotive News reported that with three months to go, analysts are increasingly confident that total industry sales for the year will reach at least 16.4 million. LMC Automotive and Kelley Blue Book each raised their 2014 forecast to that level today, matching TrueCar and Edmunds.com. That would represent a 5% gain from 2013.
For September, Edmunds projected sales would rise 11%. TrueCar and LMC expect a 10% gain, while KBB predicted an increase of 9%. The forecasts correspond to a seasonally adjusted, annualized selling rate of 16.4 million to 16.5 million.
“The strength in automotive sales is undeniable, as August sales performance was well above expectations and there is no evidence of a payback in September, suggesting that the auto recovery still has some legs,” Jeff Schuster, LMC’s senior vice president of forecasting, said in a statement.
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