Auto manufacturers continue to post strong sales
October 3, 2014
According to Jeff Schuster, senior vice president of forecasting for LMC Automotive, the strength in automotive sales is obvious.
“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,” Schuster said. “On the heels of another increase in the 2014 expected volume, 2015 is expected to hit 16.7 million units with more upside potential than downside risk.”
Cars sales continued to be strong in September.
Projections for new-vehicle retail sales in September are set for 1.0 million units, a 94,000-unit increase from September 2013 and a 6 percent jump based on a selling-day adjusted basis, according to J.D. Power.
The retail seasonally adjusted annualized rate in September is expected to be 13.5 million units, an increase of 1.2 million units from September 2013. If the projections are accurate, September will be the seventh straight month where the seasonally adjusted annualized rate surpasses 13 million units.
What are cars going for?
In September, the average new-vehicle retail transaction price reached $30,100, which was the most ever for the month and surpassed last September by nearly $450. The forecast from J.D. Power sees consumer spending on new vehicles to be more than $30 billion in September. That would be the best level for the month since 2004.
Prospective car shoppers should understand buying an automobile is more than paying for the sticker price. Taxes, fees and insurance rates should always be considered before pulling the trigger on a purchase.
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