VP of Industry Insights
New vehicles sales (including fleet deliveries) should reach 1,427,500 units this month – 11.4% higher than a year ago and the largest gain for the month of October since 2001. Anticipated SAAR for light-duty vehicles should be 17.9M units versus 16.6M a year ago. Total used vehicle sales, including franchise and independent dealerships and private-party transactions, could exceed 3,023,686 units. That would be down 2.3% from one year ago.
New Vehicle Sales Remain Hot With Third Month in 2015 of Double-Digit Growth:
Low interest rates helped along with automaker promotions on model-year close-outs.
Incentive Spending by Automakers Averaged $3,104 Per Vehicle for the Month:
That figure is up 14.1% from a year ago and down 1.2% from September 2015.
New Vehicle Registrations Expected to Be 84.5% Retail and 15.5% Fleet:
That compares with 84.4% retail registrations and 15.6% fleet in October 2014.