Through the first three weeks in October, the seasonal Q4 slowdown in new-car sales clearly is in full effect, according to Kelley Blue Book.
Find out where analyst Alec Gutierrez expects a sales decline.
“Fleet sales likely will decline 20,000 to 25,000 units overall, while retail sales will drive the remaining decline,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. “Retail sales typically slow in October following September’s model-year clearance sales, featuring heavy discounts on soon-to-be replaced vehicles.”
Although sales have dropped month-over-month, they remain high compared to this time last year.
“Sales in California will be especially strong with gas prices currently more than $0.70 per gallon above the national average,” said Gutierrez. “This will trigger incremental sales growth in the electric and hybrid categories as well.